2. Market Structure

3. What is MARKET? What is MARKET STRUCTURE ? A market is a medium where sellers meet buyers to exchange goods and services. Market Structure are the conditions under which sellers and buyers interact in the market.

4. MARKET STRUCTURE Perfect Competition Imperfect Competition Monopoly Oligopoly Monopolistic Competition

5. PERFECT COMPETITION Many buyers & sellers Buyers Sellers

6. PERFECT COMPETITION Products are homogeneous

7. Free entry to & exist from the market PERFECT COMPETITION

8. Perfect Information PERFECT COMPETITION Worth $5

9. Example PERFECT COMPETITION

10. MONOPOLY Only 1 seller We are all buyers

11. Products are homogeneous or heterogeneous MONOPOLY Vs

12. No entry to the market MONOPOLY

13. Imperfect information MONOPOLY $5 ?! $3 ?! $1 ?!

14. Example MONOPOLY

15. Oligopoly Only a few sellers 成功人士之篇

16. Products are homogeneous or heterogeneous Oligopoly Vs

17. Entry are restricted Oligopoly

18. Imperfect information Oligopoly ???????????????? ……

19. Example Oligopoly Towngas

20. MONOPOLISTIC COMPETITION Many buyers & sellers Buyers Sellers

21. Products are heterogeneous MONOPOLISTIC COMPETITION Vs

22. Free entry to & exist from the market MONOPOLISTIC COMPETITION

23. MONOPOLISTIC COMPETITION Nearly perfect information $ $$ $ $ $ $ $ $$ We know everything…… $$ $ ? ? ? ? ? ?

24. MONOPOLISTIC COMPETITION Example TAXI Haircut

25. Perfect Competition Monopoly Oligopoly Monopolistic Competition

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