Taxonomy of market structures Flashcards
1
Q
One Buyer and One Seller
A
Bilateral monopoly
2
Q
One Buyer and a few sellers
A
Restricted monopsony
E.g. Military equipment
3
Q
One Buyer and many sellers
A
Monopsony
4
Q
Few Buyers and one seller
A
Restricted monopoly
5
Q
Few Buyers and Few Sellers
A
Bilateral Oligopoly
6
Q
Few Buyers and Many Sellers
A
Oligopsony
7
Q
Many Buyers and One Seller
A
Monopoly
8
Q
Many Buyers and a Few Sellers
A
Oligopoly
9
Q
Many Buyers and Many sellers
A
Polypoly