Market types and economic competition

Welcome to a teacher, today we are going to talk about the types of markets that exist.

Naturally, the market is not a unique element, but there are various forms of market, various situations, in which supply and demand have totally different situations.

In the first place we find the monopoly. The monopoly has as its fundamental characteristic the fact that there is only one company making the offer. With which, the market situation is one of absolute domination. customers are at the mercy of this monopoly.

In the oligopoly, there is competition, however they are few companies those that compete with each other. Therefore, the consumer's reaction capacity is much less than if there were many companies competing with each other.

If you have any questions or comments about market rates and economic competition, you can do it through our website. And if you want to practice more, you will find below this video, some printable exercises with solutions for you to do.