Can anyone tell what is the Difference?

Discussion in 'General Marketing' started by karistana, Oct 13, 2009.

0
  1. #1
    Can anyone tell me What is the difference between Perfectly competitive market and monopoly Markt?
     
    karistana, Oct 13, 2009 IP
  2. bilalx

    bilalx Active Member

    Messages:
    427
    Likes Received:
    1
    Best Answers:
    0
    Trophy Points:
    65
    #2
    its looking so easy question to me
    Monopoly means where only one product is leader no competitive of him
    where
    competition stands called perfectly competitive
     
    bilalx, Oct 13, 2009 IP
  3. bilalx

    bilalx Active Member

    Messages:
    427
    Likes Received:
    1
    Best Answers:
    0
    Trophy Points:
    65
    #3
    Monopoly is market condition in which we have only one provider of a particular service.
    Perfectly competitive market

    A market structure in which the following five criteria are met:

    1. All firms sell an identical product.
    2. All firms are price-takers.
    3. All firms have a relatively small market share.
    4. Buyers know the nature of the product being sold and the prices
    charged by each firm.
    5. The industry is characterized by freedom of entry and exit.

    in short Many buyers/Many Sellers
     
    bilalx, Oct 13, 2009 IP
  4. simstar

    simstar Peon

    Messages:
    467
    Likes Received:
    4
    Best Answers:
    0
    Trophy Points:
    0
    #4
    I agree, all relevant points there.

    A monopoly can be 25% of the market or it could be 100%, depends how you view it really. The competition commision in the UK look at firms with greater than 25% market share.
     
    simstar, Oct 13, 2009 IP
  5. newlogo

    newlogo Peon

    Messages:
    3,931
    Likes Received:
    11
    Best Answers:
    0
    Trophy Points:
    0
    #5
    competitive market means there are more than 1 person rival, while monopoly means only 1 rival.
     
    newlogo, Oct 13, 2009 IP
  6. Steve Powers

    Steve Powers Peon

    Messages:
    1,196
    Likes Received:
    5
    Best Answers:
    0
    Trophy Points:
    0
    #6
    In monopoly Market,all the products or service are provided by one provider.However,for Perfectly competitive market,the products and service are mature and it's competition that makes them develop fast.
     
    Steve Powers, Oct 13, 2009 IP
  7. makk_biz

    makk_biz Member

    Messages:
    66
    Likes Received:
    0
    Best Answers:
    0
    Trophy Points:
    41
    #7
    In Monopoly Market, one particular provider is always dominating the market.
    In perfect competitive market, the domination will be shared by more than one provider.
     
    makk_biz, Oct 14, 2009 IP