Monopolies, Oligopoly, Monopolistic Competition, And Perfect Competition

1085 Words Aug 25th, 2014 5 Pages
When understanding the different types f structures it is important to know the different types of markets that there are. Understanding barriers, buyers and sellers with knowing the market share and competition is important to understand what barriers are occurring in the market. The different market structures are Monopoly, Oligopoly, Monopolistic Competition, and Perfect Competition.
Understanding these different type of market structures helps to better understand what type of market is currently occurring. A monopoly is when the companies are state owned and there is no other entry allowed into the market. An oligopoly is when there are many buyers with few sellers which is what makes for tough competition. Monopolistic competition i when there are many buyers, many sellers, and the same products are being sold but branded differently. Finally, perfect competition is when we buy things from the market is perfect competition.
When we take a look at the telecommunications market, it has been under the spotlight in the past few years as the tech industry has been becoming increasingly popular. Regulation in the telecommunications industry have caused many positive changes for consumers in the market. Some of these positive changes include better service as well as better pricing on their services and equipment. As the market has shifted from dial-up internet services and landline telephone to cellular services and broadband internet, this has changed the way…
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