Taxonomy of market structures Flashcards

1
Q

One Buyer and One Seller

A

Bilateral monopoly

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2
Q

One Buyer and a few sellers

A

Restricted monopsony

E.g. Military equipment

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3
Q

One Buyer and many sellers

A

Monopsony

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4
Q

Few Buyers and one seller

A

Restricted monopoly

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5
Q

Few Buyers and Few Sellers

A

Bilateral Oligopoly

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6
Q

Few Buyers and Many Sellers

A

Oligopsony

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7
Q

Many Buyers and One Seller

A

Monopoly

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8
Q

Many Buyers and a Few Sellers

A

Oligopoly

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9
Q

Many Buyers and Many sellers

A

Polypoly

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