Scribd Logo
Upload

Welcome to Scribd!

  • 1358 1641617313315 1382 1600765544449 DiBM - U3 - S3

    Uploaded by

    Arujuna
    9 views5 pages
    1. A market is where buyers and sellers meet, the point where demand and supply intersect, and where the market price and quantity are determined. 2. Market equilibrium is reached at the price and quantity where the amount buyers want to purchase equals the amount sellers want to sell. 3. Market structures refer to the characteristics of an industry based on the number of businesses and level of competition, including monopolistic competition, oligopoly, monopoly, and perfect competition.

    Original Description:

    Original Title

    1358-1641617313315-1382-1600765544449-DiBM_U3_S3

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    1. A market is where buyers and sellers meet, the point where demand and supply intersect, and where the market price and quantity are determined. 2. Market equilibrium is reached at the price and quantity where the amount buyers want to purchase equals the amount sellers want to sell. 3. Market structures refer to the characteristics of an industry based on the number of businesses and level of competition, including monopolistic competition, oligopoly, monopoly, and perfect competition.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    9 views5 pages

    1358 1641617313315 1382 1600765544449 DiBM - U3 - S3

    Uploaded by

    Arujuna
    1. A market is where buyers and sellers meet, the point where demand and supply intersect, and where the market price and quantity are determined. 2. Market equilibrium is reached at the price and quantity where the amount buyers want to purchase equals the amount sellers want to sell. 3. Market structures refer to the characteristics of an industry based on the number of businesses and level of competition, including monopolistic competition, oligopoly, monopoly, and perfect competition.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 5

    Unit 3 - PRINCIPLES OF ECONOMICS

    3.3 Micro-Economics
    (Market & Market structures)

    1
    MARKET
    This is the place where buyers and sellers meet. In other
    words, the point where demand and supply meets. The
    place/ point where the market price and market quantity
    is determined.

    2
    MARKET EQUILIBRIUM

    3
    MARKET STRUCTURES
     An industry’s characteristics in
    relation to the number of
    businesses in the industry and
    how they compete. There are
    basically four types of market
    structures:

    4
    TYPES OF MARKET STRUCTURES

    Monopolistic
    Competition

    You might also like