Talking about there have any market structure is the best fit for any construction industry

in Malaysia. In my opinion, construction industry should not have a best fit market structure
because construction industry should separate into different market structure to produce more
employment opportunities. Furthermore, if some of the construction industry products are fixing
in a market structure, it will be very difficult for fulfill requirement to all buyer or supplier. So I
will say there is no best fit market structure for construction industry products.
The reason why I am saying there is no best fit for construction industry products is
because every market structure has their own characteristic. The first market structure I want to
explain is pure competition. Pure competition is a market structure that has many buyers and
sellers. Pure competition has many people buys or sells a little fraction of the total amount in
market. Furthermore, pure competition wills fully informed buyers or sellers about the price and
availability of all products. The products example for pure competition is tiles, door, window and
more. (A.McEachern, 2012)
Pure monopoly is something like opposite of pure completion. Pure monopoly is there is
only one supplier in the industry. The product that produces by a pure monopoly firm is the
product will be very unique compare to other. Pure monopolys entry is prohibited or extremely
difficult by law. Furthermore, pure monopoly also is the ownership of a product because there is
only one supplier. The examples of product for pure monopoly are Tenaga Nasional Berhad,
Indah Water and more. (Chang, 2013)
Oligopoly can be say as a between pure monopoly and pure competition. For oligopoly,
the number of firms that oligopoly have is more than 1 and do not more than 10. After that, the
product that market structure oligopoly will produce is some product that is a little bit unique or
standardize compare to others.
Monopolistic competition is a market structure that have many firms sell the similar
products but not identical. The product every firm produces there is always at least a little bit
different form other firms. Each firm will advertises to attract customers to its own brand. The
number of firms is between 10 until 100, not more than 100. (N. Gregory Mankiw, 2013)
At the end, my opinion about there is any best fit in construction is no. There is no best in
construction industry. Every construction industry products have its own market structure to
fulfill the market.