Competition Markets
Imperfect Competition
Characteristics of imperfect competition
Advertising, in addition to being persuasive, tends to be informative, because a good group of companies are in the market and the knowledge of the buyer is somewhat limited.
Their main objective is to reach the price they have proposed, regardless of the real supply and demand.
Las empresas participantes ejercen su propio control sobre el precio, en mayor o menor medida, de los productos que ofrecen al mercado.
Allows restricted access to products.
Imperfect Competition Market Types
Oligopolio
wireless service providers
Oil companies
The railways
Monopsonio
heavy weapons industry
Monopolio
Telmex
Microsoft
Oligopsonio
Automotive industry with car seat
Perfect Competition
Characteristics of the perfect market
Homogeneous products
free attendance
equality condition
No entry and exit barriers
not marketing
Example of perfectly competitive markets
Agriculture
foreign exchange market
online shopping