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Competition in the Market

Competition in the Market. Four Types of Competition. Monopoly Competition Oligopoly Natural Monopoly. Pure/Perfect Competition Rivalry between companies for sales of similar goods and services Large number of buyers and sellers Identical product Well informed buyers and sellers.

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Competition in the Market

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  1. Competition in the Market

  2. Four Types of Competition • Monopoly • Competition • Oligopoly • Natural Monopoly

  3. Pure/Perfect Competition • Rivalry between companies for sales of similar goods and services • Large number of buyers and sellers • Identical product • Well informed buyers and sellers More Competition Less Competition

  4. Pure/Perfecct Competition Many buyer/sellers + Identical Products

  5. Monopoly • A business which controls all the selling of a good or service More Competition Less Competition

  6. Controlled 90% of the diamond industry in 1980

  7. Oligopoly • Afewvery large sellers dominate the industry More Competition Less Competition

  8. Oligopoly Ipod Zune

  9. Natural Monopoly • Natural Monopoly – a business with only one seller because it would be too expensive for other sells to compete

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