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Market Structures

Identify the market structure

QuestionAnswer
Many sellers, standardized products, no control over prices, very few barriers to entry or exit Perfect competition
Many sellers, Similiar but differentiated products, limited control over price, few barriers to entry or exit monopolistic competiton
Few sellers, standardized products for industry, differentiated products for consumers, some control over price, Many barriers to entry and exit Oligopoly
One seller, standardized , but no close substitutes, significant control over price, almost impossible to enter market, estrictions or regulation present monopoly
Created by: joannw15
 

 



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