Running Head: ECONOMICS
There are various market models which form the basis of a particular industry. The market models include monopoly, perfect competition, oligopoly and monopolistic competition. There are certain industries in which, certain changes have been brought in the market model. Due to the changes some consequences do take place. The present paper shall analyze the changes in market model in a particular industry and then, discussion shall be made on various key topics regarding the same. Description of Industry
The industry selected for purpose of current paper is Food Industry. Food industry is a combination of diversified business organizations to which are engaged in the supply of a majority of food energy consumed by the people around the world. There are various kinds of areas included in the food industry (Stackelberg, 2010). The areas include regulation, education, research and development in food technology, agriculture, manufacturing and food processing. In this way, it can be said that, there are various kinds of things which are to be considered in relation to the food industry in a particular country. General Patter of Change
Certain forms of changes have been brought in the food industry in the last many years. A few years ago, the food industry was completely in the control of a few organizations such as McDonald’s, KFC and Burger King. With the passage of time, things have changed considerably. Now, various organizations have come into the scene and it is expected that, the competition within the organizations will increase to a considerable extent in the time to come. Earlier the industry was oligopolistic industry but, now this industry has changed to a certain level and it is moving towards turning into a perfect competition form of market structure.
The major organizations in this industry are from the country of China. The Chinese economy is...
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