Market Structures

Market Structures

Analyze how the market system allocates resources. Draw accurate conclusions about the
role markets, prices, and competition in a market system. Use a demand / supply module to
analyze price determination and the effects of government intervention in the marketplace
(ex. Rent controls, minimum wage)
Objective of this Assignment:  Compare the differences that exist between organizations
that have a purely competitive market structure vs those that are monopolies.

  1. Think about a retailer that you have personally visited, that has the characteristics of a
    perfectly competitive market structure.

a. Provide the name and location of the retailer. If you use an online retailer, provide the
website.
b. Give a description of the characteristics of this retailer providing reasons why it fits the
characteristics of a perfectly competitive market structure.

  1. Think about a retailer or organization that you have personally visited, that you feel is
    most closely related to a monopoly market structure.

a. Provide the name and location of the retailer. If you use an online retailer, provide the
website.
b. Give a description of the characteristics of this retailer / organization providing reasons
why it fits the characteristics of a monopoly market structure.

  1. Now compare the perfectly competitive retailer you discussed in 1. Above to the
    monopoly you discussed in 2. Above.

a. Describe the different pricing strategies of each organization.
b. Describe how the government would interact differently with each organization.
Make sure to number and label your responses as they are above. For instance, label your
response to the first part of the first question as “1a”.

Answer Preview

APA Format, 888 words

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