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Economic Market Forms

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7 facts:

Monopolistic Competition
   is a market in which   
A Large Number of Independent Firms Have a Very Small Proportion of the Market Share
Also called a 'Competitive Market'
Monopoly
   is a market in which   
There is Only One Provider of a Product or Service
Monopsony
   is a market in which   
There is Only One Buyer
Natural Monopoly
   is a market in which   
Economies of Scale in a Monopoly Cause Efficiency to Increase Continuously With the Size of the Firm
Oligopoly
   is a market in which   
A Market is Dominated by a Small Number of Firms Which Own More Than 40% of the Market Share
Oligopsony
   is a market in which   
There Are Many Sellers and Few Buyers
Perfect Competition
   is a market in which   
The Market Consists of a Very Large Number of Firms Producing a Homogeneous Product









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