Market StructuresVersión en línea Match the characteristics with the Market Structure por Chris McCormick 1 PERFECT COMPETITION 2 MONOPOLY 3 OLIGOPOLY 4 MONOPOLISTIC COMPETITION price takers- no control over the market price many firms/producers commodities- it's the same good no matter who makes it low to no barriers to enter only producer-no substitutes for their good barriers are too high becuase of patents & copyrights total control over prices unique (one of a kind) good high barriers to enter and compete (start-up costs/technology) few firms top 4 companies control 70-80% of market uses non-price competition to try and raise price barriers are low- easier to start a business and compete many close substitutes for their good similar goods
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