1. Perfect Competition
2. Monopolistic Competition
3. Oligopoly
4. Monopoly
Select one of the above, give me one fact about the market structure and one example of a modern day business that operates as the structure you select. Don't copy your classmate's ideas.
Amie Jean- 2nd Period
ReplyDeleteIn a perfect competition market structure there are many buyers and sellers and they are knowledgeable about price and availability of all resources and products.
There are no perfectly competitive markets in actuality but an example that’s close is agricultural markets in some cases. Because there are many farmers selling the same things to the market, and many buyers and they all can compare the prices easily.
Aadithya Srivatsav-2nd period
ReplyDeleteMonopoly is the exclusive possession or control of the supply or trade in a commodity or service which leads to no competition domination of the market to the point where the supplier dictates the prices of the product.
There are no perfect monopolies. However, there are ones close enough. The NFL, although it does have competitors, these competitions are minuscule compared to the reach of the NFL and the millions of people who watch NFL and the billions of dollars the NFL makes in comparison of it's competition.
Emigdio Escobedo
ReplyDeletePeriod 2
A business that runs as a monopoly has complete control of a resource and can regulate how much it outputs to its favor.
A good example of a monopoly (before last year) was the gas company Petromex in mexico. this company controlled all of mexico's oil and thus was the only seller of gas and diesel, making prices sky rocket since mexico did not accept oil outside of its borders.
Jacob Toy - 4th Period
ReplyDeleteWhen a few companies dominate a market, an oligopoly is formed. Each company is affected by the decisions of its rivals and must take those decisions into account in determining its own price and output.
Google Android and Apple iOS together form a smart phone oligopoly since both are two of the most popular brands of phones and make up the majority of cell phones in America and other countries. If Apple were to lower the price of their phones, Android is likely to do the same.
Samantha Chan
ReplyDeletePeriod 2
Monopolistic Competition is where firms have many competitors but the firms all make a product that is only slightly different.
For example, Papa Johns and Dominos pizza. Both companies sell pizza and yet people often have preferences towards one or the other because their pizza tastes slightly different. However, in the end both sell pizza.
Monopolistic competition is a market structure in which many firms sell a differential product into which entry is relatively easy in which the firm has some control over its product price and in which there is considerable nonprice competition.
ReplyDeleteFor instance, gum is a simple industry. Their are thousands of kinds and hundreds of flavors to where no one is absolutely strict as to eating the same type of gum everyday, unless they have a particular taste above the rest. All bubble gum like Bug League Chew of Hubba Bubba have the same original flavor and relatively similar price. Their isn't much differentiation between the flavor one wants and the brand they happen to choose. They're both still in business, even though they're very similar. This market mostly depends on consumer preferences. Five gum has a high price, but it is still sold the same as those above.
Amy Krauhs
Period 4
Madeline Alcock 6th
ReplyDeleteAn oligopoly occurs when a few major companies control the price of a certain good. The companies are likely to keep their prices similar to rivals
An example is the airline companies such as Delta, United, and Southwest. If one of these companies was to raise or lower the airfare then the other two companies are likely to follow.
When a firm with monopoly power can divide its market into submarkets sufficiently distinct so that favored customers cannot readily resell to others, it is frequently more profitable for the monopolist to charge different prices in the different submarkets than to charge the same price throughout his whole market.
ReplyDeleteAn modern-day example of a monopoly is Sirius XM Radio Inc.which has a monopoly in satellite radio, yet it represents a tiny part of the radio business.
Grace Cha
ReplyDelete2nd Period
An oligopoly is a market form in which a market or industry is dominated by a small number of sellers that often reduces competition and leads to higher prices for consumers. These companies are aware of the actions of their rivals and will influence each other .
An example is the four main wireless companies (AT&T Mobility, Verizon Wireless, T-Mobile, Sprint) which controls nearly 89% of all wireless users in the US.
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ReplyDeleteWesley Andrade
ReplyDeletePeriod 2
Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another (e.g. by branding or quality) and are therefore not perfect substitutes.
The variance in protein powders and fitness supplements are a prime example of monopolistic competition. There are SOOO many supplements in the fitness industry that manufacturers basically produce the same product over and over again, and slap on a new label that promotes "NEW ADVANCED TECHNOLOGY". It's all BS. All people really need is a protein supplement and a Creatine Monohydrate supplement. Also, it would be helpful if you got your blood tested and supplement your deficiencies. {/rant}
At the end of the day the manufacturers are pumping out the same product; with variances in flavor and other 'active' ingredients.
Evan Young
ReplyDeletePeriod 2
Oligopoly can contain a high concentration ratio, meaning many firms dominating an industry, instead of just one or instead of a very large amount of firms. An example of an oligopoly are energy companies such as Shell, Mobil One, Chevron, BP, etc.
Jacquie Gann
ReplyDeletePeriod 2
A perfect market is a market that the competition is perfect therefore no person/ supplier can set the price of a good.
There are no existing perfect competition markets, but an example would be a company choosing to sell cowboy boots at a higher price, consumers of the boots would just turn to a supplier at a lower price due to the ability to easily compare prices.
Cailin O'Connell
ReplyDeletePeriod 2
A monopoly is when several firms dominate an industry. A modern day example of this is in pharmaceuticals. There is Pfizer, Johnson & Johnson, Novartis, AstraZeneca, and more. The decisions each of these groups make largely influence the competition.
Ingrid Curtom
ReplyDeletePeriod 4
Unlike perfect competition, monopoly, and monopolistic competition, oligopoly requires strategic thinking. In the other markets, the seller doesn't worry about how other sellers react because the seller is small or already a monopoly; but under oligopoly, a seller is big enough to affect the market (they must respond to their rival's choices as their rivals respond to their choices)
Ex: Music companies- Universal Music Group, Sony Music Entertainment, Warner Music Group, and EMI Group
Jocelyn Dang
ReplyDelete4th period
A monopolistic competition's major feature is the ability of firms and entrepreneurs to differentiate by physical product, marketing, human, human capital, and distribution, while still competing for the same profit and customers.
Examples of monopolistic competition include pharmaceutical companies like Advil, Nyquil, Tylenol, etc., which all aim to relieve pain, but their products all have slightly different chemical compositions, packaging, marketing, and human resources.
Jenny Simon
ReplyDelete2nd Period
Monopolistic Competition is a market structure in which many firms sell products that are similar but not identical. In many U.S. markets, producers practice product differentiation by altering the physical composition, using special packaging, or simply claiming to have superior products based on brand images and/or advertising. Toothpastes and toilet papers are examples of differentiated products. They are all the same product but the method of selling each brand differ.
Felix Chang
ReplyDeletePeriod 4
A monopoly is when one company dominates an entire sector if a specific market and buyers have no choice but to get goods and services from that single provider.
Comcast is a good example of a monopoly, in many subdivisions people are only able to receive Internet service from Comcast. Thus, Comcast is able to charge higher rates duce to the lack of competition.
Felix Chang
ReplyDeletePeriod 4
A monopoly is when one company dominates an entire sector if a specific market and buyers have no choice but to get goods and services from that single provider.
Comcast is a good example of a monopoly, in many subdivisions people are only able to receive Internet service from Comcast. Thus, Comcast is able to charge higher rates duce to the lack of competition.
Elyssa Buntzel
ReplyDelete4th pd
An oligopoly is a market structure in which a few firms dominate the market. An example is British Airways, who operate their routes with minimal amounts of close competitors, but there are small airlines for specialties.
Gabby Chaney
ReplyDelete4th period
In a perfect competition market the buyers and sellers are well informed of the product that the market price has zero control with the decision that a buyer and seller will take.
For example, their are numerous phone companies that carry the iphone now. The seller (the phone company stores) and the buyer (the consumers) do not care about the price of the iphone because they have so much knowledge of the product they are will to pay whatever.
brikitta hairstpn
ReplyDelete4th period
in a monopoly market, there is little to no competition because the product cannot be matched.
for example, Walmart is a monopoly company because it is supermarket that no one can match, not Target, Kroger, Sams Club or anyone.
Kissa Rizvi
ReplyDeletePeriod 2
Oligopoly is the middle ground between monopoly and capitalism. An oligopoly is a small group of businesses, two or more, that control the market for a certain product or service.
An example of an oligopoly would be tobacco companies, such as Philip Morris International.
Michelle Pacheco
ReplyDelete6th Period
Oligopoly is a market in which a industry is dominated by a small number or sellers, it´s difficult to enter and there is some competition. An example would be gas stations in Canada like Shell, Petro, Mobil, Esso and more.
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ReplyDeleteAmanda Salmon 2nd period
ReplyDeleteA Oligopoly is a market where several firms sell a similar product and price depends on rivals.
Ex) Starbucks!!!!!!!!!!
Angela San Juan
ReplyDelete2nd Period
A monopolistic competition is characterized by a relatively large number of sellers producing differentiated products from clothing to furniture to books. In a monopolistic competition, there is a widespread of nonprice competition. It is a selling strategy in which one firm tries to distinguish its products or services from all competing products on the basis of attributes like design and workmanship. Monopolistically competitive firms are most common in industries where differentiation is possible, such as: The restaurant business, or the retail trade.
Marvin Puac
ReplyDelete4th period
An oligopoly is characterized by a small number of sellers who dominate an entire market. Competition among companies in an oligopoly tends to be fierce. Because of this, expensive marketing campaigns are a main focus of these companies (its one of the only ways to differentiate themselves from the competition). Examples of this are Coca Cola and Pepsi.
Daniel Aiello
ReplyDelete4th period
A monopoly is a market to where one company dominates the market and has no competition and since no one can rival it, it can do as it pleases in the market.
HECO electric company in Hawaii is considered a monopoly.
Mackenzie Boudreau
ReplyDelete2nd period
In an oligopoly, barriers to entry are high. The most important barriers are economies of scale, patents, access to expensive and complex technology, and strategic actions.
An example of an oligopoly would be health insurance with companies such as Humana, Cigna, Aetna and WellPoint.
Keanu Florence
ReplyDeletePeriod 4
In a monopolistic competiton market structure firms are individually able to determine the prices of their products or services. These prices are usually determined with cost of production and output in mind.
Modern day Examples would be hotels (Marriott, Hilton, etc.) and restaurants (Magliano's, Chili's, etc.)
Jayson Varughese
ReplyDelete4th period
The capital gained in an oligopoly is significantly greater than that of a monopolistically competitive firm. An important feature of oligopoly is that firms are interdependent from each other due to the relative size and extent of market control.
A good example of an oligopoly market is in the case of soft drinks, such as coke or pepsi.
Justin Adame
ReplyDelete2nd Period
A situation in which a particular market is controlled by a small group of firms.
An oligopoly is much like a monopoly, in which only one company exerts control over most of a market.An example of an oligopoly would be the commercial airline such as southwest and United.
Patrick Pecson
ReplyDelete6th Period
An ideal monopoly is an exclusive possession of a particular business or good, but in todays world, it would be a firm that provides an overwhelming majority of sales, with the competition having little or no impact on the dominant firm.
A good example would be a major league sport, such as the NBA.
Ronald Propper
ReplyDelete2nd period
In a monopolistic competition there are many buyers and sellers. There are low barriers for firms to enter these markets, and is very easy to start up. There is a lot of competition. Most firms operate with excess capacity. An example of this would be businesses such as restaurants. Like Carrabbas, Escalantes, and etc.
Timothy Krauhs
ReplyDeletePeriod 6
A monopoly is when a company controls and entire market and can set what ever prices they want to there product.
One example of this is Monsanto who controls the market of genetically modified organism mostly used for seeds in farming which they full control over.
Maddy Pye
ReplyDeletePeriod 6
In a oligopoly a few companies control the market. The prices tend to remain stable because if one company lowers the price too much the others will do the same and as a result the profit margin lowers for all of the companies involved.
Ex) The gas market (Exxon, Chevron, Shell, BP)
Kennedy Ford
ReplyDeleteP.2
Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another (e.g. by branding or quality) and hence are not perfect substitutes.
An example would be consumer services, such as nail shops, hairdressing and etc
Monopolistic competition is a market where firms in the industry sell a similar product where each firm tries distinguish their product from the others.
ReplyDeleteEX) Video Games - Companies sell video games but try to make their game "more fun" than the other companies'
Oligopolies account for about half of all output produced in the economy. An example of an oligopoly is H.E.B, Kroger, and Target
ReplyDeleteNatalia Chudumebi Opara
ReplyDelete6th period
Perfect competition is a market structure where many firms offer a homogeneous product. An example is an agricultural market, a farm market.
Alan Pham
ReplyDelete2nd Period
Oligopoly is where the market is controlled by a small number of sellers. Example would be car companies and they compete against each other to build the right car for the people.
Ex) Ford, Nissan, Honda. etc
Ayesha Wahid
ReplyDelete2nd Period
Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another and hence are not perfect substitutes. An example would be movies and restaurants.
This comment has been removed by the author.
ReplyDeletechichi opara
ReplyDelete6th period
monopoly is when a specific person or enterprise is the only supplier of a particular commodity
Example) National Football League and Major League Baseball
Landon Wells
ReplyDelete4th Period
Oligopoly markets are markets which very few sellers of a certain product are available at the time due to lack of competition and how hard it is to enter the industry successfully against these few companies. An example would be the internet service industry.
Leslie Reglos
ReplyDelete6th Period
While the goods produced by the firms in a monopolistic competition market structure are similar, slight differences often exist.
Examples are: Kellogg's Raisin Bran, Total Raisin Bran, and Post Raisin Bran
Joe Thomas
ReplyDelete4th Period
A Monopolistic Market structure is a market with many firms selling a smiliar product. What differentiates it from the Perfect Competition structure is that their products are not standardized. Each firm tries to make its product seem like the best buy so people will purchase it rather than purchase from their competitors. The Mp3 player market is a good example because of the many strategies by different companies. Apple makes the iPod and its supposed to be the best, so people buy it, but it is also very expensive. Other companies like chinese knock off manufactureres make chaper mp3 players, so people will gravitate twards those if they cant afford iPods.
Arjun Daru
ReplyDelete2nd Period
There are 3 models that can describe an ologopolistic market. The variety and complexity of the models is because you can have two to 10 firms competing on the basis of price, quantity, technological innovations, marketing, advertising and reputation
Nestlé, The Hershey Company and Mars, Incorporated together make most of the confectionery made worldwide.
Reuben Bijy
ReplyDelete2nd Period
A monopoly is when a company controls and entire market and can set what ever prices they want to there product.
A good example of a monopoly would be Luxoticca a company that controls over 80% of the world's eyeglass market
oligopoly
ReplyDeleteappeared in the 1518 Latin version of Thomas More’s Utopia
ex. Kellogg
Amber Alex
ReplyDelete4th Period
Both monopolies and perfectly competitive (PC) companies minimize cost and maximize profit.
Center Point Energy works as a monopoly of the energy industry in the Houston area because it is the only electricity company available and it controls all of the areas power lines.
karen george
ReplyDelete4th period
monopolistic competition- There are no barriers to entry, and as a result firms receive zero economic profits in the long run. Differentiated products face a downward-sloping demand curve, price is still above marginal cost, and the market is not allocatively efficient.
Ex: hotels(Hilton, Holiday Inn)
Monopolistic competition differs from perfect competition in that production does not take place at the lowest possible cost. Because of this, firms are left with excess production capacity.
ReplyDeleteSome examples are McDonald's and Burger King.
Chris Abraham
ReplyDelete2nd Period
Oligopoly
Fact:The decisions of one firm influence, and are influenced by, the decisions of other firms. Strategic planning by oligopolists needs to take into account the likely responses of the other market participants.
Company: Microsoft operates in an oligopoly, since the computer operating system market has a handful of companies dominating it.
Anthony Colesante
ReplyDelete6th Period
Fact: Monopoly falls under the category of limited competition because it assumes that a single producer sells a product with no close substitutes to many buyers and benefits from barriers to entry by other firms.
Company:Many small businesses operate under conditions of monopolistic competition, including independently owned and operated high-street stores and restaurants.
James Mai
ReplyDelete6th Period
Monopolistic Competition:
Fact: The market structure has a wide variety of firms that will supply demands of consumers, this market structure is typically characterized by the ease of entry for new firms and lack of uniformity for products, therefore allowing varieties of products that will please the wide range of consumer tastes.
Modern Day Business: The cartoon industry. There are many different companies making many types of cartoons out for television networks. It is relatively easy for other companies to enter the market, though quite harder for them to stay in it.
Monopolies tend to get crushed in America as we have laws against them, however they happen in other countries which don't have laws preventing them
ReplyDeleteEx: Netflix (very close to being a monopoly)
6th Period
ReplyDeleteOligopoly is a situation in which a particular market is controlled by a small group of firms.
Ex. The television industry is an oligopoly
Martin Nguyen
ReplyDelete4th Period
Monopoly: Monopolies have a complete control over the industry that they are in. They can set whatever price they want because there is no competition to offer different prices.
Ex: If a firm were the first firm to develop chocolate cows that could naturally produce chocolate milk and made sure their methods of developing such a cow were kept under wraps, that firm would then have monopoly over naturally produced chocolate milk.
Reuben Kuruvila
ReplyDeletePeriod 4
An oligopoly is a type of market in which there are few sellers selling a standardized product. An example is the cell phone market, such as Apple and Android.
Crystal Lam
ReplyDelete2nd period
An oligopoly is a state of limited competition, in which a market is shared by a small number of producers or sellers, in which a few firms dominate. When a market is shared between a few firms, it is said to be highly concentrated. Although only a few firms dominate, it is possible that many small firms may also operate in the market.
For example, major airlines like British Airways (BA) and Air France operate their routes with only a few close competitors, but there are also many small airlines catering for the holidaymaker or offering specialist services.
Humam DaasTheBoss
ReplyDeleteYou know what period I'm in.
"Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another (e.g. by branding or quality) and hence are not perfect substitutes." - Straight off of wikipedia.
Let's talk about shawerma markets. Why, in one strip mall in an Arab country, do you find 5 shawerma places? First of all, we all need to understand that shawerma is some dank shit and any joint that opens is bound to get business. Now, its the quality that changes it. You could either get some of the cheap stuff that is still dank af but leaves you spending the next couple of days dropping the kids off at the pool, or you could get the quality, superior meat on a stick sold by higher priced joints. Seriously it becomes a freaking art form and it is amazing watching those guys, they even have apprentices! Anyway, the choice is yours and in the end you usually maximize utilitu and get what you paid for. However, please don't take this advise and apply it to american "Mediterranean" places serving shawerma. Seriously you're better off eating low quality shawerma from the cornerstore in Syria than you are eating that stuff chef Hernando calls food.
Top level kek m8
Delete6th Period
ReplyDeleteA monopoly is when a business or company tends to have most of the customers and business and is usually in control. It is basically a way of eliminating the competition.
An example of a monopoly would be the Kindle. Bookstores such as Borders almost went bankrupt because more people were switching over to the new technological was of reading books.
Gerard Barrientos
ReplyDelete2nd Period
Although an oligopoly is known for having few competitors with high market values, some other competitive markets with an oligopoly can also have a competitive market with low prices, as they try to compete over each other. An example of this type of business is the current gas market, where the prices are plummeting down in order to wipe out competition.
4th Period
ReplyDeleteA company who is a monopoly can set there own prices and can use their power whenever they wish to do so. They also have the power to change their prices by adjusting the quantity of the product it supplies.
An example of a monopoly would be a local bank in a small town. It is the only bank the town has which means they have say as to what they wish to charge for its prices.
Kevin Zhang
ReplyDelete2nd Period
An Oligopoly is a dominant market system still with limits. We can look to video game consoles as the biggest war of oligopolies. Aside from Nintendo, Sony, and Microsoft, it is difficult for new consoles to become a reality. In fact, companies with new technologies simply chose to go to the main 3 rather than produce their own independent consoles.
A monopoly is when one form or company has power over an industry or a single product that receives no competition from other firms. Companies that have monopolies receive the most income and business and take away business from other companies.
ReplyDeleteAn example of a monopoly is Nike, Adidas, and jordan. They have a strong grip on the tennis shoe industry and practically control the industry because they receive all the customers
Luke Chacko
Period 6