Market structure - Wikipedia, the free encyclopedia

The different types of market structure are; the monopolistic competition also referred to as the competitive market. The oligopoly market (called a duopoly when only two firms exist in the market), a monopsony (there exist only one buyer), the monopoly structure and the perfect competitive market. The types of market structures can be grouped into the perfectly competitive structure and the imperfectly competitive market structure. The imperfectly competitive market structures are the oligopoly, duopoly, monopoly and the monopolistic competition.

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Market structure can be said to be the classification or composition of the different types of market as described from their unique characteristics of how they choose to allocate prices of commodity in the market. The different types of market structure can be grouped majorly into two main categories the perfect and the imperfect market. Under the perfect market structure we have the perfect competitive market. Under the imperfect market we have the , oligopoly, monopolistic competition and other special categories based on the number of buyers. There are different examples of the different types of market structure based on the special characteristics’ possessed by each type of market structure.

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