Name : Maudi Hijriatin

Student ID : 29121151
Business Economy

HW 3A
1. What are the 5 subtle differences in terms of perfectly competitive market structure
between the old market and new market?
Answer :
The differences between the old and new perfect market structures are as follows:
1. In the old market, sellers and buyers usually meet for transactions, but in the new
market, sellers and buyers can make transactions using media so there is no need to meet.
2. In the old market, there were only sellers and buyers. but in the new market there are
sellers, buyers, media, and delivery services.
3. In the new market, transactions can be carried out remotely while the old market must
come to the market.

2. What are your suggestions the strategy for the new business creation under the
current condition?
Answer :
in the current new normal, the business strategy that can be done is online business. for
now people are avoiding direct transactions for fear of the spread of the corona virus. The
strategy for doing business online is to follow the rapidly changing trends.

3. Are the recent business conditions, digital economy etc, will be here to stay? please
elaborate?
Answer :
For the next few years, today's business may turn into an easier business because the
digital economy will be more advanced because it follows the sophistication of
technology which is getting more advanced from year to year. even next year it is
estimated that there will be a metaverse technology and this will certainly influence
economic and business activities
HW 3B
1. Is it true that monopoly type of market structure will be gone for good? elaborate
please!
Answer:
Yes. I think the monopoly market is disappearing as it becomes easier to get capital to do
business. nowadays, getting capital to do business is as easy as getting a loan at a bank
made easy. the more business people, the fewer types of monopoly markets. then for now
there are many substitute products so there are fewer monopoly types

2. Under what condition, the monopoly market structure still might be considerate to
be ok to operate?
Answer:
When monopoly companies still have strong power so they are still very influential.

3. Please define several factors/conditions that make the monopoly's market structure
transforms to be more consumer-friendly market structures. Elaborate!
Answer:
- Technology factor. the more sophisticated the economy, the easier it is to find
substitutes for this monopoly product.
- Economic factors. the more developed a country's economy, the more entrepreneurs
who run the business so that the monopoly market is getting smaller.
- Political factors. Political factors also affect the monopoly market. government
policies will affect market conditions in the country.