What it's: A competitive market refers to a market characterized by intense competition in which no player has a dominant power. It is identified
Market Structure
Monopoly: Meaning, Examples, Characteristics, Causes, Advantages, Disadvantages
What's it: a monopoly is a market structure with only one seller and serving many buyers. The seller is called a monopolist. Unlike in perfectly
Imperfect Competition: Characteristics, Types
What's it: Imperfect competition is a market structure in which sellers or buyers have market power over prices, which prevents the market from
Duopoly: Examples, Characteristics, Types, Implications
What's it: Duopoly is a market structure in which only two sellers (producers). This is the basic form of oligopoly competition. The two players
Price Taker: Meaning, Characteristics, and Examples
What's it: A price taker refers to a firm that cannot influence market prices and can only set an output price at the market price. All firms in
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Herfindahl-Hirschman Index: Concept, How to Calculate, Pros and Cons
What's it: Herfindahl-Hirschman Index (HHI) is a measure of market concentration. You compute it by summing the squares of each firm's market share in
Perfect Competition: Characteristics, and Implications
What's it: Perfect competition is a theoretical market structure concept with many companies producing identical goods or services. In other
Concentration Ratio: Meaning, Formula, How to Calculate, Pros, Cons
Concentration ratio (CR) measures the market dominance of the largest companies. We calculate this by adding up the market share of the largest
Market Structure: Meaning, Types, Characteristics, How to Determine
Market structure refers to the characteristics of market organizations that determine the behavior of companies in an industry. It determines the
Market: Meaning, How It Works, Types, Structure
What's it: A market is where buyers and sellers trade and exchange. It can refer to a physical location such as a store or an abstract location such