https://padlet.com/ltho8531/i1j11q19ltyd Made with a dash of wit en-us 2018-04-11 17:17:54 UTC 2023-05-29 00:32:25 UTC hello@padlet.com ltho8531 https://padlet.com/ltho8531/i1j11q19ltyd/wish/250833259 Perfect competition is the simplest market structure and sometimes known as “pure competition.”
Ex: Agriculture]]> 2018-04-11 17:19:59 UTC https://padlet.com/ltho8531/i1j11q19ltyd/wish/250833259 ltho8531 https://padlet.com/ltho8531/i1j11q19ltyd/wish/250833473 A monopoly forms when barriers to prevent firms from entering a market that has a single supplier (has only one seller!); monopolies disrupt competition and can cause prices to increase]]> 2018-04-11 17:20:19 UTC https://padlet.com/ltho8531/i1j11q19ltyd/wish/250833473 ltho8531 https://padlet.com/ltho8531/i1j11q19ltyd/wish/250833621 In a monopolistic competition, many companies compete in an open market to sell products that are similar but not identical. Each firm holds a monopoly over its own particular product.]]> 2018-04-11 17:20:34 UTC https://padlet.com/ltho8531/i1j11q19ltyd/wish/250833621 ltho8531 https://padlet.com/ltho8531/i1j11q19ltyd/wish/250833909 Oligopoly describes a market dominated by a few large, profitable firms; economists usually call an industry an oligopoly if the four largest firms produce 70 to 80 percent of the output]]> 2018-04-11 17:21:01 UTC https://padlet.com/ltho8531/i1j11q19ltyd/wish/250833909 ltho8531 https://padlet.com/ltho8531/i1j11q19ltyd/wish/250843646 2018-04-11 17:37:23 UTC https://padlet.com/ltho8531/i1j11q19ltyd/wish/250843646 ltho8531 https://padlet.com/ltho8531/i1j11q19ltyd/wish/250845702 2018-04-11 17:41:31 UTC https://padlet.com/ltho8531/i1j11q19ltyd/wish/250845702 ltho8531 https://padlet.com/ltho8531/i1j11q19ltyd/wish/250847201 Sometimes cartels can form; a cartel is an agreement by a formal organization of producers to coordinate prices and production which gives them significant control over a market (cartels are illegal in the U.S.)
EX: Pharmicuticles, Cars, Banking, Oil]]> 2018-04-11 17:44:37 UTC https://padlet.com/ltho8531/i1j11q19ltyd/wish/250847201 ltho8531 https://padlet.com/ltho8531/i1j11q19ltyd/wish/251260384 2018-04-12 17:04:47 UTC https://padlet.com/ltho8531/i1j11q19ltyd/wish/251260384 ltho8531 https://padlet.com/ltho8531/i1j11q19ltyd/wish/251274214  Restaurants such as Panera Bread, Wendy's, and Chipotle. They essential sell the same product, food, however each business has its own style. EX: bakeries,]]> 2018-04-12 17:28:40 UTC https://padlet.com/ltho8531/i1j11q19ltyd/wish/251274214 ltho8531 https://padlet.com/ltho8531/i1j11q19ltyd/wish/251280510
Utilites such as Duke Energy,  Water and infrastructure such as a bridge are examples of monopoly, they have  great control over industry

]]> 2018-04-12 17:40:40 UTC https://padlet.com/ltho8531/i1j11q19ltyd/wish/251280510 ltho8531 https://padlet.com/ltho8531/i1j11q19ltyd/wish/251648115 2018-04-13 17:00:57 UTC https://padlet.com/ltho8531/i1j11q19ltyd/wish/251648115 ltho8531 https://padlet.com/ltho8531/i1j11q19ltyd/wish/251651106 2018-04-13 17:07:52 UTC https://padlet.com/ltho8531/i1j11q19ltyd/wish/251651106 ltho8531 https://padlet.com/ltho8531/i1j11q19ltyd/wish/251652534 2018-04-13 17:11:32 UTC https://padlet.com/ltho8531/i1j11q19ltyd/wish/251652534 ltho8531 https://padlet.com/ltho8531/i1j11q19ltyd/wish/251696928 2018-04-13 18:47:31 UTC https://padlet.com/ltho8531/i1j11q19ltyd/wish/251696928 ltho8531 https://padlet.com/ltho8531/i1j11q19ltyd/wish/252233911 - Its easier for newcomers
- homogenous products
- price its set by supply and demand]]> 2018-04-16 16:35:49 UTC https://padlet.com/ltho8531/i1j11q19ltyd/wish/252233911 ltho8531 https://padlet.com/ltho8531/i1j11q19ltyd/wish/252239489 2018-04-16 16:46:55 UTC https://padlet.com/ltho8531/i1j11q19ltyd/wish/252239489 ltho8531 https://padlet.com/ltho8531/i1j11q19ltyd/wish/252666293 2018-04-17 16:43:14 UTC https://padlet.com/ltho8531/i1j11q19ltyd/wish/252666293