Market Models (co-exist, they all exist at the same time)

1. Pure Competition
2. Monopolistic Competition
3. Oligopoly
4. Monopoly
Pure competition: have the biggest participation
: they don’t have anything to do with the price “price takers”
: ambulant vendors
: they don’t have control on the market (absence)
: standardized; identical/homogenous
: easiest to enter and to exit
Monopolistic competition: more players than oligopoly
: more than 10 but less than 100
: combination of monopoly and pure competition
: little control
: product differentiation; they make their product different from other
Oligopoly: 2 and maximum of 10 players
: ex. Telecom companies (smart and globe)
Monopoly: there is only one player in the market
: total control
: “price makers”
: dealing with essential services and goods