Slide 1 Slide 2 CHAPTER 7: DIFFERENT TYPES OF MARKET STRUCTURES Slide 3 WHAT IS A MARKET? An environment in which buyers and sellers interact to exchange goods and services…

Market Models /Structures* *are theoretical frameworks for existing firms and industries in the real world. Basic market models: 1. Pure/ perfect competition- a market situation…

MARKET STRUCTURES CHAPTER 7: DIFFERENT TYPES OF MARKET STRUCTURES Sharrock 2006 1 What Are Markets? A market is where buyers and sellers: meet to exchange goods and services.…

* CHAPTER 21 PURE COMPETITION 4 Market Structures Economists group industries into four distinct market structures based on: * the number of firms in the industry * Whether…

Slide 1 Slide 2 BELLWORK 1. Which of the following is NOT a condition for perfect competition? (1) many buyers and sellers participate (2) identical products are offered…