The organization of a market, based mainly on the degree of competition
A market structure in which many producers supply an identical product. This is the most efficient structure, with prices set by supply and demand.
A market structure in which a single producer supplies a unique product that has no close substitutes.
A market structure in which a few firms dominate the market and produce similar or identical goods. This structure is more competitive than monopoly.
A market structure in which many producers supply similar but varied products. This structure is closest to perfect competition.
A cost or benefit that arises from production or consumption of a good or service that falls on someone other than the producer or consumer.
Goods and services that are used collectively and that no one can be excluded from using.
barriers to entry
Obstacles that can restrict access to a market and limit competition.
The proportion of total sales in a market.
Goods and services that are sold in markets.