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 Pure Competition market there are no major barriers to entry into the industry so new firms can enter or exit the industry very easily. If a Pure Competition market reaches a situation which supply exceeds demand then the ruling market price is forced down and only the efficient firms survive. Monopolistic competition
Monopolistic competition is characterized by a relatively large number of sellers producing differentiated products such as clothing, furniture and books. However, as there are once more no major barriers to entry the above situation concerning profits applies in terms of long run. Newcomers increase supply and although those firms with distinctive products can charge some premium they will still have to move in line with market prices generally, which made the price takers. This will have a dampening effect on profits the firms gained. Monopoly
Pure monopoly is a market structure in which one firm is the sole seller of a product or service. Only a small number or even one large firm is dominant and constitutes the entire industry. Pure monopoly is a real opportunity for ‘supernatural’ profits, in excess of what is required to stay in business since the entry of additional firms is blocked or the barrier is high to entry. Monopolist produces a unique product that the firms make no effort to differentiate its product.