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COMPETITION (MONOPOLY (Categories (Legal (Example: Polaroid, A company…
COMPETITION
MONOPOLY
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Categories
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Natural
Such enterprises require huge investments, and it would be inefficient to duplicate the products that they provide. They inhibit competition, but they're legal because they're important to society.
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OLIGOPOLY
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Few companies that control the market, few sellers.
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MONOPOLISITC COMPETITION
When there are lots of businesses producing similar or equal goods, but they have differentiation.
Differentiated product (by price, by quality, style, etc.)
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Example: McDonald's, Burger King, Five Guys, etc.
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PERFECT COMPETITION
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Example: hardware stores, fruit shops, etc.