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 the real commercial world, there may be numerous competitor, or there may be only a few other sellers in a given market. The need of for a more accurate world for markets of this type of this type led to the development of ‘imperfect market’ to refer to such markets. Imperfect competition refers to markets lying in between the two extreme forms of markets, pure competition and pure monopoly. In order to bridge the gap of these extreme forms of market structure, two economists, Joan Robinson of Cambridge University of England and Edward Chamberlin of Harvard University in the U.S.A., introduced independently a third market world to explain and illustrate the theory of imperfect competition in the year of 1993. In other words, their model of market organization is what as refer as monopolistic competition. As a result of the variations between the markets present, four distinct market structures are introduced: Pure Competition, Pure Monopoly, Monopolistic competition, and Oligopoly. Pure Competiton
Pure Competition is a rarity as such as a theoretical market model. Pure competition involves a very large number of firms producing a standardized, non differentiated product that is exactly identical to that of other firms as perfectly competitive. Pure Competition is a market which firms will only make ‘normal’ profits, the amount required for them to stay in the industry.