null
US
Sign In
Sign Up for Free
Sign Up
We have detected that Javascript is not enabled in your browser. The dynamic nature of our site means that Javascript must be enabled to function properly. Please read our
terms and conditions
for more information.
Next up
Copy and Edit
You need to log in to complete this action!
Register for Free
9444604
Market Structures
Description
A level Business Studies Mind Map on Market Structures, created by dhruv bechra on 29/06/2017.
No tags specified
a level
business
eduqas
longdean
business studies
a level
Mind Map by
dhruv bechra
, updated more than 1 year ago
More
Less
Created by
dhruv bechra
about 7 years ago
6
1
0
Resource summary
Market Structures
Monopoly
Single producer in market - 1 business has 100% of market share (pure monopoly).
Likely to erect barriers - prevent others from entering market.
They are price makers - have significant influence on price.
Any business with over 25% of market share is classed as a monopoly.
Oligopoly
Many businesses but only few dominate market.
Tend to have differentiated products - with strong brand identity.
Brand loyalty encouraged but advertising and promotion.
Prices normally stable - short price wars occur.
Some entry barriers - high start-up costs etc.
Monopolistic Competition
Large number of relatively small businesses.
Few barriers of entry.
Products are similar - different from each other.
Brand identity is relatively weak.
Not price takers - only have limited degree of control over prices.
Perfect Competition
Large number of businesses - no 1 business is big enough to influence other businesses.
They are price takers - due to no market/price leaders.
Goods sold are homogenous - no difference between goods from businesses.
Businesses have equal access to technology.
Consumers have full market information.
Show full summary
Hide full summary
Want to create your own
Mind Maps
for
free
with GoConqr?
Learn more
.
Similar
AS - Buss1 - Formula Cards
Sophie Davis
1.3.1 Characteristics of Successful Entrepreneurs
Molly Hills
Market Positioning
Helen Rennie
BUSS1
Sophie Davis
The skills needed to be a successful entrepreneur
Rosie Wallis
How to Turn Business Failure into Business Success
Micheal Heffernan
Microeconomics year 1
Nkolika Ezepue
Business Aims and ICT Strategies
scrt
BUSS 2 - People in Business
Sophie Davis
Business Studies - AQA - GCSE - Business Studies Key Terms
Josh Anderson
Entrepreneur Skills
Alex Harvey
Browse Library