StudentShare solutions
Triangle menu
  • Home
  • Subjects
  • Miscellaneous
  • [ECONOMIC] Different Market Structures & their Effects on Cusumers and Producers [WRITTER REQUIRE to have: ECONOMICS 4th Edition Book by: Stephen Ison & Stuart Wall]

[ECONOMIC] Different Market Structures & their Effects on Cusumers and Producers [WRITTER REQUIRE to have: ECONOMICS 4th Edition Book by: Stephen Ison & Stuart Wall] - Essay Example

Nobody downloaded yet

Extract of sample
[ECONOMIC] Different Market Structures & their Effects on Cusumers and Producers [WRITTER REQUIRE to have: ECONOMICS 4th Edition Book by: Stephen Ison & Stuart Wall]

s
Firms or producers in monopolistic competition market structure have the freedom to enter and exit the market. In this market structure, there are many firms willing to enter the market either to bring unique product to the market, or to enjoy positive profit. If a firm is not able to pay for its costs can exit the market without undergoing liquidation costs (Stephen & Stuart, 2007).
However, the monopolistically competitive markets have got some market power. A monopolistic seller can increase the product price and fail to loss all his or her buyers (Stephen & Stuart, 2007). A reduction in price by a monopolistic seller may not lead to a serious price war with the other competitors. In this nature of market, there is perfect information of the market. Buyers are much aware of the goods sold in the market (Roger, 2001).
Regarding the decision making process in monopolistic competition market structure, producers are independent in setting the exchange terms for their products. The firms do not consider the ultimate effects of their decision to the rest of competitors (Roger, 2001). The firms make decisions on the assumption that their effect to the overall market is negligible and, they can not alter the market demand (Roger, 2001).
On the other hand, a monopoly market structure is where we have only one seller or producer. In this case the firm is also the industry (Roger, 2001). There are restrictions of entry to monopoly market because of high costs. Other factors that may put barriers to this market could be: social, political, or economic factors (Roger, 2001).
Monopoly exercises capitalism in the market. It has been said that many systems fail to work when they have only one provider of products as they lack incentives to produce or sell products which satisfy the consumer needs. Also, when a firm is given patent rights ...Show more

Summary

These markets consist of numerous producers. The producers have their goods or products differentiated (Stephen & Stuart, 2007). Goods sold in this market are assumed to have no difference in their…
Author : kemmeraliyah
[ECONOMIC] Different Market Structures & their Effects on Cusumers and Producers [WRITTER REQUIRE to have: ECONOMICS 4th Edition Book by: Stephen Ison & Stuart Wall] essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"[ECONOMIC] Different Market Structures & their Effects on Cusumers and Producers [WRITTER REQUIRE to have: ECONOMICS 4th Edition Book by: Stephen Ison & Stuart Wall]"
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

Book report/essay on The Body by Stephen King
It is undeniable that there are many opportunities to be explored in life. However, it is not possible for one to explore everything. The truth is that the few one explores might bring success. Nonetheless, if it is always the case that every chance one has in life would inevitably bring success, then everyone would be successful.
3 pages (750 words) Essay
Economics Regulation and Market Structures
Industrial regulation is present in very few industries and can be considered to expend resources and money. Industrial regulation affects the market by controlling industries that have economies of scale. These economies can help customers but still need regulation.
2 pages (500 words) Essay
Market structures
Therefore the market structures of an economy can be categorized under the following types. Perfectly Competitive Market In a perfectly competitive market there are a large number of buyers and sellers and therefore the equilibrium price and quantity in the market would be determined by the combined forced of demand and supply.
11 pages (2750 words) Essay
Market Structures
The businesses that these monopolies are into also have significant barriers of entry making it difficult for other competitors to offer a similar service. As can be understood from above, in a monopolistic organization, the company is king, while the powers of the consumer are limited.
8 pages (2000 words) Essay
The Effects of Different Structures on Ownership Decisions
Each marketing strategy has its own risks, advantages and disadvantages. While exports is the simplest form of entering an international market, other strategies that companies can consider are licensing, joint ventures and
6 pages (1500 words) Essay
Market Structures
Because it has no competitor, the whole market depends on the monopolist’s production, and this dependence gives the monopolist power to raise the prices even at the same quality of output, or
3 pages (750 words) Essay
Chapters Summary 9-12 :from The Art of Leadership, 4th edition by Manning and Curtis
Leadership to certain extent is related with the ethical and moral values of a person. There are many organizations where unethical or dishonest leaders created
1 pages (250 words) Essay
Chapters Summary 17-20 :from The Art of Leadership, 4th edition by Manning and Curtis
After a person’s basic needs are satisfied, this chapter goes into describing the characteristics of a self-actualized person. The purpose of this chapter is to understand human motivation. After understanding the human psychology next chapter
1 pages (250 words) Essay
Market Structures
In spite of being close substitutes, the products can be differentiated and advertising and branding plays a major role in this type of market. A large number of sellers exist in the market. The market structure is
3 pages (750 words) Essay
Market Structures
In economics, market structure is the feature of a particular market in the economy. The features of a market can be organizational, competitive, or any other characteristics that define the commodity market. The yardstick that economists use in defining market structures is the pricing models and the nature of competition in a particular market.
2 pages (500 words) Essay
Hire a pro to write
a paper under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Click to create a comment