Market Forms
- Perfect competition, in which the market consists of a very large number of firms producing a homogeneous product.
- Monopolistic competition, also called competitive market, where there are a large number of independent firms which have a very small proportion of the market share.
- Monopoly, where there is only one provider of a product or service.
- Monopsony, when there is only one buyer in a market.
- Natural monopoly, a monopoly in which economies of scale cause efficiency to increase continuously with the size of the firm.
- Oligopoly, in which a market is dominated by a small number of firms which own more than 40% of the market share.
- Oligopsony, a market dominated by many sellers and a few buyers.
Read more about this topic: Outline Of Economics
Famous quotes containing the words market and/or forms:
“I respect not his labors, his farm where everything has its price, who would carry the landscape, who would carry his God, to market, if he could get anything for him; who goes to market for his god as it is; on whose farm nothing grows free, whose fields bear no crops, whose meadows no flowers, whose trees no fruit, but dollars; who loves not the beauty of his fruits, whose fruits are not ripe for him till they are turned to dollars. Give me the poverty that enjoys true wealth.”
—Henry David Thoreau (1817–1862)
“Two forms move among the dead, high sleep
Who by his highness quiets them, high peace
Upon whose shoulders even the heavens rest,
Two brothers. And a third form, she that says
Good-by in the darkness, speaking quietly there,
To those that cannot say good-by themselves.”
—Wallace Stevens (1879–1955)