Strengths and weaknesses of them

According to information that I have seen before, I understand that a market is a formal or informal social relation, institution or infrastructure in which the exchange of services, goods, information and trade takes place. It is an organized arrangement that brings together buyers and sellers. Markets vary in location, types, geographic range and size. The main purpose of a market is to facilitate trade and distribute resources to the economy. A competitive market (also called monopolistic competition) is one that has multiple buyers and sellers. In a perfectly competitive market, multiple suppliers have an insignificant market share; standardized or homogeneous products are supplied by each supplier; customers have full information on prices and trends; all industry participants (new and existing sellers) have equal access to technology and other resources; there are no barriers to exit and entry; and the market is open to external competition.

Main part
Market structure
Economics Basics: Monopolies, Oligopolies and Perfect Competition
Strengths and weaknesses of them

Conclusion

References