Title: Characteristics of Pure Competition
Headings: Characteristics of Pure Competition
Characteristics of Pure Competition
1.0 Introduction
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Pure Competiton
Monopolistic competition
Monopoly
Oligopoly
2.0. Pure Competition
Characteristics of Pure Competition
Weng Yeang Hang Malaysia Sdn Bhd
3.0 Monopolistic Competition
Characteristics of Monopolistic Competition
Kaspersky Lab
Products
Justification
Nescafe
Products
Justification
Cavenzi
Products
Justification
Coca-cola Company
Products
Justification
Face To Face
Products
Justification
Brands Outlet
Products
Justification
Nike
Products
Justification
Casio
Products
Justification
Logitech
Products
Justification
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4.0 Pure Monopoly
Characteristic of Monopoly
ASTRO
Products
Justification
TENAGA NASIONAL BERHAD (TNB)
Products
Justification
Telekom Malaysia Bhd (TM)
Products
Justification
Indah Water Konsortium Sdn Bhd
Products
Justification
PETRONAS Gas Bhd
Products
Justification
5.0 Oligopoly
Characteristics of Oligopoly
Tesco
Products
Justification
Carlsberg lager beer
Products
Justification
Air Asia
Products
Justification
Maxis
Products
Justification
Golden Screen Cinema (GSC)
Products
Justification
6.0 Conclusion
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Content: In reality, decision makers do not have perfect knowledge and production and sales are affected by suppliers and distributors. Get Help With Your Essay
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However, this basic theory has resulted in the development of market models and characteristics of these in respect of barriers to entry into the industry, the number of firms in the industry, whether those firms produce a standardized product or try to differentiate their products from those of other firm. At the early 1920’s, only two distinct market models are present in the economic studies which are Pure Competition and Pure Monopoly. However, economist found out that most firms operate in markets that fall between the extremes of pure competition and pure monopoly. These firms do not face competition from numerous rival producers all selling a homogeneous product at a single price. Instead, most firms in the real commercial world face varying degrees of competition. In some cases, there are competitions offering more or less identical products; in other instances, firms produce and sell differentiated products. In the latter case, a competitor’s product is merely an attractive substitute.