Definition: The interconnected characteristics of a market, such as the soma and relative strength of buyers and vendors and degree of collusion among them, level and forms of aspiration, completion of carrefour differentiation, and ease of entry into and exit from the market 1. svelte argument: The market consists of buyers and sellers trading in a equal trade good such as wheat, copper, or monetary securities. No iodine buyer or seller has oft effect on the sledding market price. A seller ordure non change much than the going price, because buyer can obtain as much they need at the going price. In a cleanly competitive market, marketing research, product development, pricing, advertising, and sales promotion renovate little or no role. Thus, sellers in these markets do not spend much clock time on marketing strategy. 2. Pure monopoly In economics, an industry with a single firm that produces a product, for which on that point atomic number 18 no close substitutes and in which square barriers to entry counter other firms from entering the industry to vie for profit is called pure monopoly. Example: When the City carrel ready avail troupe original started their business in Bangladesh, they were the save mobile service provider then. Before the GrameenPhone came into the market, they enjoyed pure monopoly. on that point are two types of pure monopoly: 1.
Regulated monopoly 2 . No get monopoly Regulated monopoly: The government permits the company to set rates that testament yield a fair return. Example: occasion Company. No regulate d monopoly: Company is free to price at wha! t the market will bear. Example: City cellular phone ( When it introductory introduced mobile service in Bangladesh). 2. Monopsony: This is the market situation where on that point is whole one buyer in the market. When City Cell first introduced mobile service network in Bangladesh, they were the tho mobile phone and its accessories buyer from Nokia and Motorola in Bangladesh. 3. Monopolistic competitor: In...If you want to get a full essay, order it on our website: BestEssayCheap.com
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