Preview

Market Structure Assignment

Powerful Essays
Open Document
Open Document
2792 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Market Structure Assignment
|Dudley College of Technology |
|Market Structures |
| |
| |
|Dudley College of Technology |
|May 2011 |

|The purpose of this assignment is to demonstrate my ability to investigate the behavior of organizations and the market environment |

By

Tara Spear
CONTENTS

| |Page |
| | |
|Introduction – TESCO PLC & Oligopolies |3 |
| | |
|Other Market Structures |4 |
| | |
|Price makers and Price Takers – Demand curves |5-7 |
|

You May Also Find These Documents Helpful

  • Powerful Essays

    A monopoly is a situation in which there is a single producer or seller of a product for which there are not close substitutes. The most common example of a natural monopoly would be an Electric (power) company. Power companies are characterized by very large costs for their infrastructure making it inefficient to have more than a single firm in a region because of the high cost of duplicating facilities needed to (Colander, 2013).…

    • 1201 Words
    • 4 Pages
    Powerful Essays
  • Better Essays

    The material presented below is not meant to be a comprehensive list of all you need to know in the content area. Rather it is a starting point for building your knowledge and skills. Additional study materials are recommended in each area below to help you master the material.…

    • 998 Words
    • 4 Pages
    Better Essays
  • Powerful Essays

    A government monopoly is a monopoly based on ownership or control of a manufacturing method or process.…

    • 1214 Words
    • 5 Pages
    Powerful Essays
  • Satisfactory Essays

    You will apply important microeconomics concepts toward the competitive strategies of the Kudler Fine Food Virtual Organization that affect its long-term profitability. You will evaluate the differences between market structures and review the organization’s strategic plan, marketing overview, market surveys, and other material to evaluate the organization’s competitiveness in the marketplace, including its customers’ views. In the process, you will identify the market structure that you believe best applies to this organization, and assess how the market structure positively and negatively affects the firm’s long-term profitability.…

    • 508 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    Kowitt, B. (2010, August 23). Inside the secret world of Trader Joe 's - Full Version. Retrieved from http://money.cnn.com…

    • 1637 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    Market structure can be defined as homogeneous elements of concrete structure where buyers and seller meet and consign to trade.…

    • 795 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Spendy but indispensable: Breaking down the full $650 cost of the iPhone 5 (2013, July). Digital…

    • 386 Words
    • 3 Pages
    Satisfactory Essays
  • Better Essays

    Market structure is the state of the market with respect to its competition. There are several different market structures such as perfect competition, monopolies, and oligopoly. An industry consists of all firms making similar or identical products. Economists assume that there are a number of different buyers and sellers in the marketplace (Heakal, 2014). In some industries, there are no substitutes and there is no competition. In a market that has only one or few suppliers of a good or service, the producer(s) can control price, meaning that a consumer does not have choice, cannot maximize his or her total utility and has have very little influence over the price of goods. This will lead to a competition in the market, which allows price to change in response to changes in supply and demand. For almost every product there are substitutes, so if one product becomes too expensive, a buyer can choose a cheaper substitute instead (Heakal, 2014). According to the Fortune Global 500 list Walmart is the biggest private employer in the world with over two million employees. It remains a family owned business controlled by the Walton family, who own over 50 percent of Walmart.…

    • 1097 Words
    • 5 Pages
    Better Essays
  • Good Essays

    Retail sales are indicators of microeconomic conditions presented in a given area at a particular place in time. Since Sam Walton opened his first Wal-Mart store, Wal-Mart has been making ripples throughout the micro economies of America. Wal-Mart’s market structure is typical of most of our nation’s largest corporations in that they are an oligopoly (Brown, 2010).…

    • 1098 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    Prepare a table that compares and contrasts the various elements of four different market structures.…

    • 241 Words
    • 1 Page
    Satisfactory Essays
  • Better Essays

    Market Structures

    • 2025 Words
    • 9 Pages

    According to McConnell and Brue (2004), a monopoly occurs when a single firm is the sole producer of a product for which no close substitutes exist. Since the United States Postal Service (USPS, 2008) has no close substitutes, competition does not exist. The Postal Service’s universal service obligation (USO) is broadly outlined in multiple statutes and encompasses multiple dimensions: geographic scope, range of products, access to services and facilities, delivery frequency, affordable and uniform pricing, service quality, and security of the mail (USPS 2008). When monopolists are not protected by law from competition, the companies may have to keep their prices low in order to keep competition from entering the market. However, USPS is considered a pure monopoly and barriers of entry are in place. USPS is the only federal operating system that sends and delivers mail. USPS has competition in the market with services such as package delivery. Now, the agency has to compete with major companies such as UPS and FedEx. United States Postal Services depends on operation funding from postage and fees. Comparatively, the Postal Service provides a higher level of service and does so at low, affordable prices (USPS, 2008).…

    • 2025 Words
    • 9 Pages
    Better Essays
  • Good Essays

    Market Structures

    • 1148 Words
    • 5 Pages

    We will identify the market structure of a Cosmetologist also known as a hairdresser. Also how a Cosmetologist differentiates from other alternatives and the competitive strategies that might be used by the organization to maximize profits over the long run.…

    • 1148 Words
    • 5 Pages
    Good Essays
  • Better Essays

    Market structure is the physical characteristics of the market within which companies react. This means that there are different kinds of market structure based on how companies work together within a particular industry. Location and product have the most to do with determining the market structure. There are four defined market types. The first market structure is called the perfectly competitive market. The second market is called a monopoly market structure. The third market is called monopolistic competition market structure. The final market is called oligopoly market structure. Each market structure is different and both benefits and disadvantages to businesses.…

    • 1590 Words
    • 7 Pages
    Better Essays
  • Good Essays

    whom correspondence should be addressed at Katz Graduate School of Business, University of Pittsburgh, 312 Mervis Hall, Pittsburgh, Pennsylvania, 15260; e-mail: amurrell@katz.pitt.edu. 243…

    • 6858 Words
    • 28 Pages
    Good Essays
  • Powerful Essays

    Any business involves people and resources either to produce items or goods to be sold, or provide services to be sold (BPP, 2010). Through learning, researches and activities, it is clear that different organizations response to their business environment in a unique different way. The competitive market leads to structure such as oligopoly where many buyers and sellers involve in trade of similar products making average profit. The non-competitive market structures leads to monopoly with high barriers controlling new entrants, and with equilibrium profit or higher monopoly profit.…

    • 3723 Words
    • 11 Pages
    Powerful Essays

Related Topics