market structures (markets)

Question 1

what are the market structures ?

Answer 1

monopoly
oligopoly
monopolistic
perfect

Question 2

what are the characteristics of monopoly?

Answer 2

• differentiated
• price maker
• high barriers to entry
• product unique
• price high
• promotion large budget

Question 3

what are the characteristics of oligopoly ?

Answer 3

• differentiated
• price maker
• high barriers to entry
• non price comp
• price high
• promotion aggressive

Question 4

what are the characteristics of monopolistic ?

Answer 4

• slightly differentiated
• small ability to change price
• relatively low barriers
• price relatively low
• promotion low budget

Question 5

what are the characteristics of perfect ?

Answer 5

• homogeneous
  -price taker
  -no barriers
  -price low
  promotion low budget, loads of promotion