Market Structures Tutorial

What is a

Market Structure?

A market structure is basically the characteristics of that market. What is meant by these characteristics?  

The characteristics range from competition , the buyers and sellers, difference in product , the barriers or ease of entry into the market as well as the exit of that market.

There are four different types of market structures that operate in an economy.  These market structures usually operate within local businesses or even well established organisations. You should be able to identify different businesses in Jamaica and in the Caribbean and the type of market structure that they operate in. 

This Lesson will widen your understanding of market structures. By the end of this lesson you should be able to : 

1. Explain what is meant by a market structure 

1. Differentiate between each market structure 

1. Identify the Advantages and Disadvantages of each structure