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Types of Economic Competition

Exploring various economic competition types based on the number of firms, product similarity, and market conditions. Learn about pure competition, monopoly, oligopolies, and monopolistic competition.

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Types of Economic Competition

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  1. Types of Economic Competition

  2. Determining the Type of Economic Competition • The number of firms competing in the market • The amount of similarity between the products of competing businesses

  3. Pure Competition • The market condition where there is a large number of suppliers offering very similar suppliers

  4. Monopoly • The market condition in which one supplier offers a unique product

  5. Oligopolies • The market in which a few businesses offer very similar products or services

  6. Monopolistic Competition • The market in which there are many firms competing with products that are somewhat different.

  7. Monopolistic Competition • The market in which there are many firms competing with products that are somewhat different.

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