Wednesday 18 April 2018

Educational Links And Refereces





  


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Wednesday 4 April 2018

Media

Market Structures Poster




Practice CrossWord




Across
1. large number of potential buyers but only a few sellers
3. The organizational and other characteristics of a market
4. a mathematical method of analyzing the outcomes of choices made by people or organizations that are interdependent.
5. and product differentiation as sources of market power.
6. Being of the same kind, related

Down
2. The situation prevailing in a market in which buyers and sellers are so numerous and well informed.
7. This occurs when the quantity demanded is equal to the quantity supplied.
8. Pure because the only source of market power is lack of competition.
9. Someone who sells a Product
10. Every business aims to make a ?
11. Someone who purchases a product




 Puzzle: Created By Kittanya Anderson

Posters from Google
Poster 1
Poster 2


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Topic 2 - Monopolistic Competition & Monopoly Market Structure

Monopolistic Competition 


This type of structure is free to enter and exit the market. Each organization or firm makes all the independent decisions about pricing as well as the amount of output to produce, and the overall cost of production. The products in the monopolistic competition market structure are differentiated. There are four main types of differentiation, namely:

Monopolistic competitors are most common in organizations such as
  • Hotels 
  • Barbers Shops 
  • Hair Salons 
  • Corner Shops
  • Bars and Pubs 


Monopoly

The monopoly is the type of market structure that there is only one seller that produces a unique product. There are high barriers to entry, the price of the product is determined by the seller because there is no competition or close substitutes. Monopolies have specific sources that allow them to have power in the market. These Include :
  • Economies of scale 
  • No substitutes 
  • Capital requirements 
  • Control of Natural Resources 

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