Perfect competitioN
Imperfect competition
Competitive markets
It is the day-to-day market, in which economic agents
It is a situation in which sellers and buyers
Strategies and operating conditions of various bidders with respect to goods or services.
can exercise power over the prices of goods and services..
do not have the power over the prices offered. It is characterized by: Everyone sells a small total amount. Homogeneous products. There are no barriers to entry. Everyone can access market information.
Types of imperfect competition
1. Oligopsony
2. MONOPSONY
3. MONOPOLISTIC COMPETITION
5. OLIGOPOLY
4. MONOPOLY
It has only one bidder, for this reason it determines the price and conditions
It has only one claimant, so it possesses full power over the price and conditions of the product.
It is characterized by being a homogeneous market of few claimants, so the power falls on the buyers.
There are quite a few bidders and goods, although it is difficult for them to acquire the power of price.
There are few bidders and they have the power to control the market price.
Competitive markets
Zaira Mahecha
Created on September 25, 2022
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Transcript
Perfect competitioN
Imperfect competition
Competitive markets
It is the day-to-day market, in which economic agents
It is a situation in which sellers and buyers
Strategies and operating conditions of various bidders with respect to goods or services.
can exercise power over the prices of goods and services..
do not have the power over the prices offered. It is characterized by: Everyone sells a small total amount. Homogeneous products. There are no barriers to entry. Everyone can access market information.
Types of imperfect competition
1. Oligopsony
2. MONOPSONY
3. MONOPOLISTIC COMPETITION
5. OLIGOPOLY
4. MONOPOLY
It has only one bidder, for this reason it determines the price and conditions
It has only one claimant, so it possesses full power over the price and conditions of the product.
It is characterized by being a homogeneous market of few claimants, so the power falls on the buyers.
There are quite a few bidders and goods, although it is difficult for them to acquire the power of price.
There are few bidders and they have the power to control the market price.