Question

Which of the following are possible Market structures for an economic system

Answer 1

In economics there are four different types of market structures. They are as followed:

1) Perfect competition- This allows for businesses to compete against each other for consumers.

2) Monopoly- This is when one business or corporation corners a market. This occurs when a business is the only supplier of a good/service.

3) Oligopoly- This is when a small amount of businesses control a market/product.

4) Imperfect competition

In your question then, the correct answers are : Monopoly, perfect competition, and oligopoly.

Answer 2

Answer: Monopoly, Oligopoly, and Pure Competition

Explanation:

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