Monopoly

There is just one seller in a monopoly market system, therefore a single corporation
controls the whole market. It has complete market power, therefore it can set any price
it wants. Consumers have no choice but to pay the seller's pricing. Monopolies are
unfavorable.
Oligopoly
This is important since new competitors may offer significantly lower prices, jeopardizing
the profits of colluding firms. Oligopolies can protect themselves from new potential
entrants into the market by controlling prices. Because the number of enterprises is
small, each one has some market power.
Monopolistic competition
A monopolistically competitive market has almost the same long-run characteristics as a
completely competitive market. A company that profits in the short term will only break
even in the long run because demand will fall and average total cost will rise.
Monopsony
A monopsony is a market arrangement in which one buyer sets prices, creates demand,
and dominates the market. A monopoly and a monopsony both refer to a single entity
that influences and distorts a free market. Being a labor market monopsonist enables
businesses to obtain economies of scale and lower long-run average costs. It boosts
profitability and returns to investors.
Oligopsony
Oligopsony is a market system in which there are a lot of sellers but only a few
customers. Because of the concentration of demand in a few parties, each has
significant control over the suppliers and may effectively keep prices low. Sellers have
little bargaining power and must compete for a small number of customers.