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.
Oligopoly:
ReplyDeleteFact:Market power in oligopoly is due to a lack of sellers or producers in the market
Example:An example of an oligopoly would be the computer operating systems. This market is dominated by Windows, Apple's Mac OS and Linux
Poju Adeogba
Period 2
Monopoly:
ReplyDeleteFact: monopoly is a market environment where there is only one provider of a certain economic good or service.
Example: The cable company is an example of this in India (sort of like it is in America.) The cable company in India, facing no competition, is notorious for poor quality and poor service.
Jiayu Wang
Period 4
Perfect Competition:
ReplyDeleteFact:Perfect Competition describes markets that have no participants are large enough to have the market power to set the price of a certain product/good/service.
Example: Agricultural markets. No farmer is large enough to set the market price for selling corn, wheat etc. Therefore, agricultural markets are really close to the perfect competition definition because there are many providers who sell the same good, and different goods, but are not large enough to singlehandedly set the market price.
Shalom Soman
Period 4
Monopolistic Competition:
ReplyDeleteFact:Monopolistic Competition is a market structure in which many
Firms sell products that are similar but not identical
Example: Restaurants. An example of monopolistic competition are Chinese restaurants and buffets, though they both have the same basis of what their food is going to be, the taste and quality is different.
Cynthia Galán
Period 4
Perfect Competition
ReplyDeleteFact: They are structured so that no small firm can alter the market price or the quantity demanded.
Example: An example of this would be a farmer's market such as Pike's Place market. There are so many suppliers in this one given market that if one supplier were not to show up or sell anything on a given day, it would not affect the market price
Victoria Avila
6th period
Monopolistic Competition
ReplyDeleteFact: Monopolistically competitive firms are assumed to be profit 'maximisers' because firms tend to be small with entrepreneurs actively involved in managing the business.
Example: Hotels- knowledge is widely spread between participants (different hotel companies) and they learn from each other's ideas to compete for customers.
Omar Khadimally
2nd Period
This comment has been removed by the author.
ReplyDeletePerfect Competition
ReplyDeleteFact: Structured so that buyers and sellers can freely leave and enter the market
Example: Taco trucks and other street food vendors can price their items to their own taste and can shut down and start back up when they feel like it.
Dahlia Chandrahasan, 4th period
Perfect Competition
ReplyDeleteFact: Perfect competition means there are few, if any, barriers to entry for new companies, and prices are determined by supply and demand.
Example: Coffee shops can price their own coffee and can start up whenever they get the opportunity. Ex. Starbucks, Tim Hortons, Dunkin Donuts
Nofil Haque
Pd. 2
Oligopoly
ReplyDeleteFact: Oligopolies consist of few firms, identical or similar products, and have low ease of entry.
Examples: Companies that manufacture automobiles or computers
Jewel Zachariah
Period 6
Monopoly
ReplyDeleteFact: A 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.
Example: The brand Luxottica is directly involved in the production of over 80% of the world’s major eyewear brands.
Fatima Wahid
Period 2
Monopolistic competition
ReplyDeleteFact: a type of imperfect competition such that many products are differentiated from on another and hence not perfect substitutes.
Example: breakfast cereals like Kellogs who make cereal with bran and rasins just like other but claim for it to be different than others.
Leesa Cano period 6
Monopolistic competition
ReplyDeleteFact: a type of imperfect competition such that many products are differentiated from on another and hence not perfect substitutes.
Example: breakfast cereals like Kellogs who make cereal with bran and rasins just like other but claim for it to be different than others.
Leesa Cano period 6
oligopoly
ReplyDeleteFact:a market structure in which small interdependent firms compete together.
Example: cars, phones, and cereals.
Oligopoly
ReplyDeleteFact: a market where a few organizations dominate.
Example: Smartphones. Android and iOS dominate the market, with Windows OS trailing behind.
Chris Varghese
DeletePeriod 6
Fact: Oligopoly barriers to entry are high which allows a few groups to run the market in which they understand the actions of each others which makes it easier for them to maximize profits by being price setters and not price takers.
ReplyDeleteExample: The four wireless providers (AT&T, T-Mobile, Sprint, Verizon) control 89% of the nation's cellular telephone service market.
Babur Khan, 4th Period
This comment has been removed by the author.
ReplyDeleteMonopoly
ReplyDeletefact:Monopoly, which only a single firm supplies only one type of product, and that firm can charge whatever price it wants because consumers have no alternatives.
Example:Monsanto
Monsanto is a agriculture company that has take 80% of the US corn feild.
Yun Ju Huang
4th
Monopoly
ReplyDeleteFact: Monopoly and competition are not mutually exclusive elements, but may both me present in any given market.
Example: Trucking and railroad companies became monopolistic after establishment of the Interstate Commerce Commission, which imposed heavy costs on start-up transportation competition.
Karishma Shah, Period 2
Monopoly
ReplyDeleteFact: Since a monopoly is a system in which only one firm supplies a specific product, the firm is able to produce only few of those products and charge very high prices, especially when the product produced has an inelastic demand.
Example: Samsung
Samsung has a monopoly on phone screens so you can only get a cracked phone screen replaced by Samsung directly, at a very high cost.
Jackie Rosenthal
4th period
Perfect Competition
ReplyDeleteFact: Businesses strive to compete and defeat each other though innovation and fair play.
Example: The new cryptocurrency Bitcoin introduces new businesses and startups that strive to compete to bring a easier, faster, and safer way to deal with this new currency. New companies are propping up and the community is supporting every establishment making the jump on this new currency.
Derrick S.
2nd period
Veronica Wang
ReplyDeletePeriod 6
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.
Tiffany Chan
ReplyDelete6th Period
Monopoly
1) A monopoly is the simplest model of limited competition because it only sells a particular product.
2) An example of a monopoly would be Pan Am Airways. It dominated airmail and transportation.
Perfect Competition
ReplyDeleteFact: It is a market structure where many firms offer a homogeneous product.
Example: One of the examples of perfect competition would be foreign exchange markets. In foreign exchange markets, currency is all homogeneous. Also, traders will have access to many different buyers and sellers. There will be good information about relative prices. When buying currency, it is easy to compare prices.
Lucky Marchelino; 4th Period
Oligopoly
ReplyDeleteFact: Due to the small number of large firms within an industry, rivals can significantly affect each others' prices, outputs, and etc.
Example: Pepsi
Raymond Loh
6th period
Monopoly- In the absence of government intervention, a monopoly is free to set any price it chooses and will usually set the price that yields the largest possible profit. An example of a monopoly is Simmons Pet Food. They are the largest canned pet food private label and co-branded manufacturing businesses that dominates the United States pet food production.
ReplyDeleteAna Salim
4th period
Monopolistic Competition
ReplyDeleteFact: Existence of Large Number of Firms (substitutes for products are closer than expected, competition is higher between large firms)
Example: Crest and Colgate Toothpaste, both different brands but same function.
Eric Chong
2nd Period
monopoly
ReplyDeletethe exclusive possession or control of the supply or trade in a commodity or service.
example: yeti
Perfect Competition
ReplyDeleteFact: In a market with "perfect competition" all firms have a relatively small market share and for that reason cannot control the market price of their product.
Example: A milk producer. Because there are so many different milk producers all making the same exact product, none of them are big and powerful enough to set the market price since consumers could just go to one of the many other producers for the same exact product at a lower price.
Monopoly
ReplyDeleteFact: It describes complete control of the entire supply of goods or of a service in a certain area or market
Example: Verizon company is the only cell phone provider of the area. If you want to buy a cell phone, you have to go there because they can change the price as the way they want.
Monopolistic Competition
ReplyDeleteFact: When firms in monopolistic competition are making a profit, new firms have an incentive to enter the market
Example: In an outdoor souvenir market, many different vendors sell very similar key chains that may only have variations in design and quality
Logan Felton, Period 2
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.
ReplyDeleteEx: 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.
Rifa Shah
Period 4
Perfect Competition
ReplyDelete1: Each unit of input are also homogenous.
2: A pig farmer is an example of perfect competition. Since there is many different pig farmers, no one can control the market like in monopolies, and people are free to move around for the best price.
Amanda Miller
p.6
Perfect Competition
ReplyDeleteFact:Producers in a perfectly competitive market are subject to the prices determined by the market and do not have any leverage.
Example:modern day business that operates as Perfect competion is Internet related industries.The internet has made many markets closer to perfect competition because the internet has made it very easy to compare prices, quickly and efficiently .The internet enables the price of many books to fall in price, so that firms selling books on internet are only making normal profits.
Ashley Abraham
Period 6
Oligopolies
ReplyDeleteFact: Oligopolies can result from various forms of collusion which reduce competition and lead to higher prices for consumers
Example: General Electric, Pratt and Whitney and Rolls-Royce plc own more than 50% of the marketshare in the airliner engine market
Shogan Tom
Period 6th
Fact: A monopolistic competition, where many firms have a relatively low market power, has an elasticity of demand that is highly elastic and is sensitive to price changes in the long run.
ReplyDeleteExample: The cell phone market is highly elastic as not many people are willing to get the latest and greatest cell phone on the market *cough *cough *iPhone 7 *cough when their own phone performs perfectly fine or when an older model from last year is cheaper.
Andrew Auyeung
Period 2
This comment has been removed by the author.
ReplyDeleteMonopoly
ReplyDeleteFact: Since the Monopoly firm's demand is equal to the market demand, they will keep selling products until the extra amount of profit they receive is greater than the additional costs in producing that good so they set their quantity where MC=MR.
Example: Microsoft owns a handful of smaller companies that has no competition to the main firm.
Ayoub Nasraddine
Period 6
Oligopoly
ReplyDeleteFact- tends to be the worst efficiency offender in the real world
Ex) The tobacco companies, soft drink companies, and airlines
irene denny
2nd period
Monopolistic Competition:
ReplyDeleteFact: 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.
Jackie Landoski
Pd.2
Oligopoly
ReplyDeleteFact: Oligopolies tend to compete on terms other than price. Loyalty schemes, advertisement, and product differentiation are all examples of non-price competition.
EX) National mass media and news outlets
Sarah Sam
6th period
Monopolistic Competition:
ReplyDeleteIn a monopolistically competitive industry its easy for the new firms to enter and the existing firms to leave it. The new firms entering will increase outputs which can cause the price of the product of that market to fall, especially when the items being sold are similar.
Example:
India's banking system that be an example of a monopolistic competitive market. In 1992, India made reforms to the financial sector which caused the banks to be more competitive- meaning that they were employing similar products at similar prices.
Yousuf Sirajuddin
Per. 2nd
Perfect Competition
ReplyDeleteFirms can only make normal profits in the long run, although they can make abnormal (super-normal) profits in the short run.
Free software is an example that is similar to agricultural marketplaces. In this case,software developers are free to enter and exit market according to their will. Pricing is also determined by market conditions, rather than the sellers.
Allen Watson
Delete6th Period
Perfect Competition
ReplyDeleteFact:There is no need for government regulation, except to make markets more competitive.
Example: A fish market. It is easy to enter and exit the market when selling fish and there is no large companies that can affect the price of fish on their own.
Alex Nguyen
Period 6
Perfect Competition
ReplyDeleteFact: All firms are price takers they cannot control the market price of their product.
Example: Imagine shopping at your local farmers' market there are numerous farmers, selling the same fruits, vegetables and herbs. You can easily find out the prices for the goods, but they are usually all about the same.
Simran Manasiya
4th Pd.
Oligopoly:
ReplyDeleteFact: An oligopoly is a market structure 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.
Examples of Oligopolies are Airways such as Air France and the British Airlines because they are very few and face a less amount of competition between sellers.
Chelsea Godfrey
Delete2nd period
Monopoly
ReplyDeleteFact: The seller is the sole source of supply of an economic product. Some degree of monopoly power is practically unavoidable.
Example: Amtrak is the only passenger railway company in the U.S. that provides cross-country services.
Prakul Suresh
6th Period
Monopolistic Competition
ReplyDeleteFact: The monopolistic competitive firms expect zero economic profits in the long run. Instead, they focus on the incentive for firms to enter the market, to find products that differ in some aspect from existing products.
Example: In a monopolistic competition, products of each individual firm are distinguished from products of other firms. Firms sell their products with different brand names such as Lux, Dove, and Lifebuoy, which are all soap brands.
Neha Shah
Period 6
This comment has been removed by the author.
ReplyDeletePerfect Competition
ReplyDeleteFact:a market situation in which there exists a homogeneous product, freedom of entry, and a large number of buyers and sellers none of whom individually can affect price
Example: The food court, there are a variety of foods sold there and no one figure can affect the prize. Customers are able to go there, find what they want, and buy it.
Alex Ittoop 2nd
Oligopoly: consists of a select few companies having significant influence over an industry
ReplyDeleteExample: the cable industry in the United States is controlled significantly by a few companies putting up stakes in certain territories and benefit from high prices due to low competition.
Sunny Patil
4th period
Monopolistic Competition
ReplyDeleteFact: There is freedom of entry and exit. Therefore, it has features of both competition and monopoly
Example: Toothpaste Manufacturers, Colgate has the monopoly of producing it. No-one can produce toothpaste under the Colgate name. But at the same time faces competition from other toothpaste manufacturers as thier products are close substitutes of Colgate toothpaste
Perfect competition
ReplyDeleteFact: In a perfect market, buyers are completely aware of seller's prices.
Example: Agricultural markets, or farmer markets
Perfect competition
ReplyDeleteFact: A condition of perfect competition is complete knowledge of offers to buy and sell by the participants in the market.
Example: Stock Market
Kyle Newby
Period 4
Monopoly
ReplyDeleteFact: Where there is no competition on a product, as only one company is a provider of that product.
Example: Certain pharmaceutical have monopolies over areas in medicine, as they are the only group to produce that certain medicine.
Nicholas Tong
Period 4
I meant period 6
DeletePerfect Competition
ReplyDeleteThere are too many firms in the market to measure as a result of having no barriers to entry.
Example: drug store cosmetics
Sophia Lian
2nd Period
Perfect Competition
ReplyDeleteFact: Producers in a perfectly competitive market are subject to the prices determined by the market and do not have any leverage.
Ex: A single firm decide to increase its selling price of a good, the consumers can just turn to the nearest competitor for a better price, causing any firm that increases its prices to lose market share and profits. Agricultural markets are examples of nearly perfect competition as well.
Karina Guerrero
4th period
Oligopoly
ReplyDeleteFact: Oligopolies tend to have no unique pattern of pricing behavior. Rivalry among oligopolists due to interdependence creates two conflicting motives. Each wishes to stay independent and to gain a maximum possible profit. thus, they act and react on the price out-put movements of one another which are continuous element of uncertainty. However, as each is motivated by profit, the sellers cooperate again, causing unique pricing patterns.
Examples: Internet search engines such as google, yahoo, and bing
Oligopoly
ReplyDeleteFact: An Oligopoly is controlled by a few producers who affect each other but do not control the market, therefore, each producer must consider the price change of the other because this will cause the other producer to lower costs for the sake of competition.
Example: The music entertainment industry which is controlled by groups such as Sony, Warner Brother, and Universal Music Group.
Oligopoly
ReplyDeleteFact: An Oligopoly is controlled by a few producers who affect each other but do not control the market, therefore, each producer must consider the price change of the other because this will cause the other producer to lower costs for the sake of competition.
Example: The music entertainment industry which is controlled by groups such as Sony, Warner Brother, and Universal Music Group.
Daniel Oviedo
ReplyDeleteperiod 4
Fact : The term monopoly in a strict sense refers to a situation in which a seller is the sole source of supply for an economic good that has no significant substitutes.
Example: Venezuela has a current monopoly in where the government owns the only major businesses that produce any food or supplies, they allow for no competition due to communist ways of governing.
Mononpoly
ReplyDeleteFact:the word monopoly was never used in English law, except when there was a royal grant authorizing some one or more persons only to deal in or sell a certain commodity or article.
Example: Unilever, They make everything from food to home care products, and currently owns over 400 name brands around the world including Dove, Axe, Becel, Lipton, Knorr, etc
Amira Nickerson
ReplyDeleteMonopolies
Fact: Monopolies that exist independent of government support are likely to be due to smallness of markets.
Example: YKK, the world's largest producer of zippers
Oligopoly
ReplyDeleteFact: Oligopolies tend to compete on terms other than price such as loyalty schemes, advertisement, and product differentiation.
Example: An example would wireless phone providers, a few like Verizon, T- mobile, At&t, and Sprint.
Aleena Mathew
Period 6
Monopoly
ReplyDeleteFact:Sources of monopoly power include economies of scale, technological superiority, no substitute goods, control of natural resources.
Example:Andrew Carnegie's Steel Company and John Rockefeller's Standard Oil
Jonathan Ungar
4th Period
A monopoly is a situation in which a single company or group owns all or nearly all of the market for a given type of product or service. An example of a monopoly would be the eyewear brand Luxottica. Luxottica is responsible for more than 80% of the production of eyewear on the market
ReplyDeleteOligopoly
ReplyDeleteFact: Oligopolies are often a result of government policies that favor some players over others by restricting or eliminating competition, which often leads to higher prices and lower quality.
That’s what will happen to health insurers, hospitals and even physicians, thanks to ObamaCare.
Example: Companies such as Humana, Cigna, Aetna, and WellPoint are more favored by customers to fully cover their healthcare needs/benefits.
Lameese Taha
6th Period
Monopoly
ReplyDeleteFact:In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute.
Example: One telephone provider for the entire United States with no competition
Srikar Valluripalli
6th period
Monopoly
ReplyDeleteFact:
A natural monopoly is a monopoly that exists because the cost of producing the product (i.e., a good or a service) is lower due to economies of scale if there is just a single producer than if there are several competing producers.
Example: Public utilities are an example of a natural monopoly
Sean Moss
2nd Period
Oligopoly: Interdependence of firms, firms will be affected by how other firms set price and output (ex. fast industry with businesses like Whataburger, chickfila, and McDonalds)
ReplyDeletePerfect Competition:
ReplyDeleteFact-All firms are price takers, therefore the firm’s demand curve is perfectly elastic
Example-Crab fishing industry
Monopolistic competition:
ReplyDeleteFact: when firms in a monopolistic competition are incurring losses, firms in the market will have an incentive to exit
Example: Record labels now sell the similar sounding music. When one particular sound stops selling, they all move to a different sound.
Monopolistic competition:
ReplyDeleteFact: when firms in a monopolistic competition are incurring losses, firms in the market will have an incentive to exit
Example: Record labels now sell the similar sounding music. When one particular sound stops selling, they all move to a different sound.
Monopoly
ReplyDeleteFact: In cases in which a small number of monopolists supply goods that are either perfect or imperfect complements, there must be no significant relationship of substitution or complementarity with the products of any other firm or group of firms, essentially the same type of interdependence as in oligopoly
Example: Google is already the largest search engine in the world with nearly 1/4 of the global population using it as their primary search engine. They are also planning to buy Yahoo which holds another 300 million users. this would allow Google to dominate half of the world population and essentially have full control of the internet. The blog I'm using right now to right this post is controlled by Google and I had to use my Google account to make posts so I could get a grade in this class. Google owns the world
Monopoly
ReplyDeleteFact: The government may reserve a venture for itself, forming a government monopoly. Some countries' electricity companies are monopolies run by the government.
Example: Some drugs are patented, and a company may increase a drug's price by tenfold or even more, as seen recently in the Turing Pharmaceuticals controversy.
Joyce
Delete6th
oligopoly
ReplyDeletecompetition between sellers in an oligopoly can be fierce, with relatively low prices and high production. This could lead to an efficient outcome approaching perfect competition. The competition in an oligopoly can be greater when there are more firms in an industry than if, for example, the firms were only regionally based and did not compete directly with each other.
exmple:Companies in technology, pharmaceuticals and health insurance have become successful in establishing oligopolies in the U.S.
Oligopoly
ReplyDeleteFact: The prevalence of oligopoly, and the present inadequate state of oligopoly theory, leaves a serious void in our understanding of how market forces govern a significant portion of the economic activity in those countries which rely on them. The void persists in spite of the heroic efforts made since the 1840s to close it.
Example: Airlines, 2 componies have more than 50% of there market.
Period 2nd
ReplyDeletePerfect Competition
Fact: Perfect competition means there are few, if any, barriers to entry for new companies, and prices are determined by supply and demand.
Example: Coffee shops can price their own coffee and can start up whenever they get the opportunity. Ex. Starbucks, Tim Hortons, Dunkin Donuts
Elisha is how I'm called but I by no means truly favored that title. Years in the past he moved to California. Researching fashion is what love doing. She is currently a payroll clerk.
ReplyDeleteVisit my site :: 오피사이트
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