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Types of Economic Competition

Types of Economic Competition. Determining the Type of Economic Competition. The number of firms competing in the market The amount of similarity between the products of competing businesses. Pure Competition.

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Types of Economic Competition

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  1. Types of Economic Competition

  2. Determining the Type of Economic Competition • The number of firms competing in the market • The amount of similarity between the products of competing businesses

  3. Pure Competition • The market condition where there is a large number of suppliers offering very similar suppliers

  4. Monopoly • The market condition in which one supplier offers a unique product

  5. Oligopolies • The market in which a few businesses offer very similar products or services

  6. Monopolistic Competition • The market in which there are many firms competing with products that are somewhat different.

  7. Monopolistic Competition • The market in which there are many firms competing with products that are somewhat different.

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