A market structure in which several or many sellers each produce similar, but...
market structure in which there are many sellers each producing a differentiated product. Each can set its own price and quantity, but is too small for that to matter for prices and quantities of other producers in the industry.
A market structure in which slightly differentiated products are sold by a large number of relatively small producers, and where the barriers to new firms entering the market are low. View Capstone Lesson(s) that address this concept
a market situation in which there are many buyers along with a relatively large number of sellers who differentiate their products from the products of competitors
a market structure characterized by many firms selling differentiated products in an industry in which there is free entry and exit.
A market structure in which there are many sellers of differentiated products, entry is easy, and there is no collusion among sellers.
A market in which a large number of firms compete by making similar but slightly different products. (p. 286)
A market or industry characterized by a large number of firms supplying products that are similar but distinctive enough from one another to give firms some ability to influence price.
A market structure characterized by a large number of firms selling products that are close substitutes yet different so that each firm's demand curve slopes downward.
A market structure first described by Joan Robinson (1903-1983), it consists of many buyers and sellers, products differentiated by an identifiable characteristic or trademark, and vigorous competition promoted through advertising.
the form of imperfect competition in which the markets has sufficiently few firms that each one faces a downward-sloping demand curve, but enough that each can ignore the reactions of rivals to what it does
AA market structure in which there are many sellers of a differentiated product (such as breakfast cereal) and only minor barriers to entry
a market structure that exists when a firm with many potential competitors attempts to develop a differential marketing strategy to establish its own market share (56)
A type of imperfect competition in which many substitute goods are available, but large firms can affect the prices of goods through advertising and brand identification, etc. Examples are the markets for beer, soft drinks or magazines.
A market with a large number of firms selling similar but differentiated products with no significant barriers to entry.
is a market structure that contains many firms, product differentiation, and ease of entry into the market
Is the same as imperfect competition.Is a situation in a market in which one or more firms is able to influence the price of a product.
the market situation when there are many buyers and sellers but with differentiated products which lessens price competition
A type of competition within an industry where: 1. All firms produce similar yet not perfectly substitutable products. 2. All firms are able to enter the industry if the profits are attractive. 3. All firms are profit maximizers. 4. All firms have some market power, which means none are price takers.
A market in which many competitors offer partially differentiated products or services within a given geographical area. Most competitors focus on market segments where they can meet customers' needs somewhat better than their competitors. See: industry structure types.
market characterized by a large number of small firms, similar but not identical products sold by all firms, relative freedom of entry into and exit out of the industry, and extensive knowledge of prices and technology. This is one of four basic market structures. The other three are perfect competition, monopoly, and oligopoly. Monopolistic competition approximates most of the characteristics of perfect competition, but falls short of reaching the ideal benchmark that is perfect competition. In fact, the best way to think of monopolistic competition is our imperfect real world's best approximation of perfect competition. It aspires to perfect competition, but doesn't quite make it.
Monopolistic competition is a common market form. Many markets can be considered as monopolistically competitive, often including the markets for restaurants, books, clothing, films and service industries in large cities.
