high barriers to enter and compete (start-up costs/technology)
top 4 companies control 70-80% of market
few firms
price takers- no control over the market price
many firms/producers
low to no barriers to enter
uses non-price competition to try and raise price
similar goods
commodities- it's the same good no matter who makes it
barriers are low- easier to start a business and compete
barriers are too high becuase of patents & copyrights
only producer-no substitutes for their good
unique (one of a kind) good
many close substitutes for their good
total control over prices
