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Industry Types (Monopoly (One MAIN firm in operation (Cartel), H Index…
Industry Types
Monopoly
One MAIN firm in operation
Cartel
H Index
more than 0.6
Level of competition
Low
Barriers to entry
High
Information flow
Scarce
Product differentiation
Possible
Oligopoly/Duopoly
Level of competition
Depends
Level of rivalry
Strong
Weak
Monitor each other OBSESSIVELY
Collusion
Interdependent!
Barriers to entry
High
H index
0.2-0.6
Few firms/Two firms
Product differentiation
Possible
Variety
Information flow
scarce
Imperfect
Difficult to compare
Perfect Competition (ideal - not in practice)
Level of competition
High
Profits minimal
Threat of price wars
Drive down prices
Promotes unethical behaviour
Leave the industry
Affects ethics
Product Differentiation
LOW
Same/Similar products
Barriers to entry
Low
Many firms
Information flow
Good
Readily available
H Index
less than 0.2
Third sector
not market share
appropriate measure