How does each market structure

benefit consumers?

Each market structure has advantages and

disadvantages for the consumer, here are some
● There will ● As there is no
always be innovation, all
consumers get the
stock in the
same things, there
market of a is no room for
product. differentiation and
some people like to
feel unique.

● There is
almost no
There is no
risk of ●
incentive to
getting improve the
scammed as products for the
the product consumers as there
is is not enough
standardized. profit.

Pure competition
 ● The products may
● Consumers get be of lower
to explore and quality because
companies focus
enjoy different more on
types products advertising than
the actual
● There will product
always be
supply at a ● There are fewer
standardized
decent price of goods as
a product or businesses are
service more focused on
innovating

Monopolistic Competition
● Products have ● Consumers
a better have a very
quality as limited
businesses choice as
have to stay there are
in the reduced fewer
businesses
market

● There is
● It is very
little
easy to innovation in
compare prices the products
of products as businesses
and find the are not very
best choice interested

Oligopoly
● Businesses can not ● Prices are higher
exploit their than normal as
service as they are there is no other
regulated by the choice but to
government consume from
that business
● There is a constant
development in the
products since ● Monopolies can
even if there is no gain some power
competition in a over society to
country, surely change it
there will be at an however they
international level. wish

Pure Monopoly
Sources:
❏ Pettinger, T. (2022, April 6). Economics help. Economics Help.
Retrieved May 5, 2022, from https://www.economicshelp.org/

❏ Shah, R. (2022, February 28). Advantages and disadvantage of

Monopoly. Bench Partner. Retrieved May 5, 2022, from
https://benchpartner.com/advantages-and-disadvantage-of-mono
poly