The economic model that compares the amount of competition among businesses in a similar industry is known as <u>market structure</u>.
<h3>What are market structures?</h3>
Market structures describe the nature, presence or absence, and degree of competition among companies, in the same industries.
The theoretical model of an ideal situation in a free enterprise economy developed by economists is known as “perfect competition.”
Other market structures include:
- Oligopoly
- Monopoly
- Monopolistic Competition
- Imperfect Competition.
Thus, the economic model that compares the amount of competition among businesses in a similar industry is known as <u>market structure</u>.
Learn more about market structures at brainly.com/question/15381691
