Nobody downloaded yet

What are the main differences between imperfect competition and monopoly market structures - Outline Example

Comments (0) Cite this document
Summary
It is a fact that monopolies are bad for the consumer market structures because they lead to an authoritative regime in place which can mean that there are no competitors and hence a great amount of one-man-rule that shall rule the roost in essence. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.7% of users find it useful
What are the main differences between imperfect competition and monopoly market structures
Read TextPreview

Extract of sample
"What are the main differences between imperfect competition and monopoly market structures"

Download file to see previous pages It is a fact that monopolies are bad for the consumer market structures because they lead to an authoritative regime in place which can mean that there are no competitors and hence a great amount of one-man-rule that shall rule the roost in essence. What is most significant is the fact that monopolies and imperfect competition structures should be kept at a safe distance from the shores of any organization that wants to grow beyond its expectations. Also the consumers would be given the best possible space that they richly deserve and hence their predicaments would be taken care of, the sooner the better. Perfect competition remains a much desired for act that industries would always like to have within their ranks but this is hardly the case as there is a great amount of significance on having monopolies and imperfect competition market structures – the result of which are severe prices meted out on to the consumers with no possible alternatives in sight. Moving on with the discussion, imperfect competition is in direct negation with perfect competition because the latter makes sure that the end consumers are given the best possible return on their money and their shopping realms are safeguarded in such a manner that they believe in trying different products and services which are available to them. However what monopolies bring to the fore is nothing short of bad blood, where one organization believes in doing everything while the rest are just not present (Carlton 2005). The monopolistic competition demands a sense of responsibility on the part of the dominant and the sole player as it has to take steps which are essential for the up and coming firms and businesses and it must be kept in mind that the new companies are there to serve the customer better and in a new manner and the customers have every right to demand the very same. They cannot be denied their due right just because a dominant player is bent upon ruining other’s sales and increasing its own in both the short term as well as the long run. A check and balance approach thus holds the key here and it is the responsibility of the government to control these measures, no matter how harsh the situations are and how stern the steps have to be taken. To quote as an example of monopolistic competition, Apple Inc was accused of having the same within its ranks. There was hue and cry that Apple Inc was forming a vertical monopoly with the signature DRM System, the iPod, iTunes and so on. The pricing strategies were largely decided by the organizational heads and thus the market levels were discouraged from booming in essence. Non-pricing strategies were not made use of by Apple Inc which also formed up as an essential ingredient of the kind of monopolistic competition that the organization was bent upon doing. Monopolistic competition does not usually last for long since governmental interventions and consumer insights get the better of such tyrannical levels of competition. There is a more advanced and up to date value-added mechanism in place with the advent of competing players which eventually throng the market and get the biggest share. Unquestionably, competition brings in expectations by the customers, end users and all those who depend a great deal on the said business. This is because competition has motivated them for so long now that the absence of competitive activity would mean a loss-loss exercise. This is generally an unacceptable phenomenon and needs to be taken care of by the people who matter the most within the helm of affairs in the organizational domains. Motivation will only take place when competition is sound enough to send shockwaves within the industrial domains and set the ball rolling as far as delivery of value and quality for the sake of end consumers is concerned. This means that motivation will act as a reinforcing agent once the ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“What are the main differences between imperfect competition and Outline”, n.d.)
Retrieved from https://studentshare.org/marketing/1410560-what-are-the-main-differences-between-imperfect-competition-and-monopoly-market-structures
(What Are the Main Differences Between Imperfect Competition and Outline)
https://studentshare.org/marketing/1410560-what-are-the-main-differences-between-imperfect-competition-and-monopoly-market-structures.
“What Are the Main Differences Between Imperfect Competition and Outline”, n.d. https://studentshare.org/marketing/1410560-what-are-the-main-differences-between-imperfect-competition-and-monopoly-market-structures.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Differentiating Between Market Structures
...looking for opportunities that will benefit the customers need and stay ahead of the market. In market structures of monopoly or oligopoly innovation or invention are always on the back step as this type of market is dominated by one organization. Recommendations The company under consideration should judge branding to be the competitive strategy with the aim to capitalize on profits. Any association should take the initiative to ensure the offered products are in line with new innovation in quality and design. Massive losses can be incurred if the new entrants offer products that already exist and they are just offering the replicated...
4 Pages(1000 words)Essay
Differentiaitng between market structures
...?Output choices of firms were limited due to market demand and production function. However, not all firms respond to this limitation in the same approach. The number and size of the firms in a market or the market structure have to be taken into consideration as they may bring effect to the production and pricing decisions. These market structures range from the perfect competition to monopoly, in between these two extremes are the monopolistic competition and oligopoly. Their differences may be summarized through the number of firms present in the...
6 Pages(1500 words)Essay
Differiating Between Market Structures
...Corporation, explain why I decided upon this marketing structure and how different the marketing structure is from other alternatives. Part two of the paper will identify four competitive strategies that may be used by Samsung to maximize its profits effectively within the high tech industry’s competitive environment. More so the paper will evaluate the efficiency of these strategies in the market structure. Market structure of the high technology industry High technology industries are prone to the same market forces just like any other...
4 Pages(1000 words)Essay
Differentiating Between Market Structures
...of the outlet. In addition, slight difference in product pricing may influence consumer patterns in purchasing. In this regard, all characteristics of market entry, number of fast food firms, product homogeneity and limited influence in pricing substantiates that Kentucky operates with a perfect competition market structure. Difference between Perfect Competition and other Structures With relation to other market structures, firms operating within perfect competition environment enjoy the ease of entry. Limited barriers of entry like...
5 Pages(1250 words)Coursework
Three Different Market Structures: Oligopoly, Monopoly, Perfect Competition
...’ examples of these three different market structures. Why is this difficult for perfect competition? An oligopoly market is a common market form, which is seen to have more in common with a monopoly rather than a perfect competition. In many countries, oligopolies exist as four firm concentrations3 and can also be considered as collective monopolies where a few firms dominate the market. This can be further understood as under. Imperfect market conditions: Unlike markets in perfect competition, firms in...
8 Pages(2000 words)Essay
What are the main differences between Monopolistic Competition and Monopoly market structure Which of these market structures best serves the interest of the consumer and why
...Differences between Monopolistic Competition And Monopoly Monopoly and Monopolistic Competition are two of the many kinds of Imperfect Competition. According to Nordhaus and Samuelson, “If a firm can appreciably affect the market price of its output, the firm is classified as an “imperfect competitor” (NORDHAUS, Willain D. and Samuelson, Paul A., 1998). It means that an imperfect firm has a control over the market price. This control varies from industry to industry. Monopoly is the extreme condition of...
4 Pages(1000 words)Essay
Monopolistic Competition and Oligopoly market structures
...Monopolistic Competition and Oligopoly market structures Monopolistic competition Monopolistic competition falls under the market structure of imperfect competition where the produces sell differentiated products where the products are not perfect substitutes. In this type of market structure the firm takes the price charged by the competitors as given and does not take into consideration the impact of its price on that of competitors. In the short run the firms operating in monopolistic market can act as monopolies but...
4 Pages(1000 words)Essay
Main differences between perfect competition and monopoly market structures
...Main differences between perfect competition and monopoly market structures Perfect competition The market structures that have perfect competition has many competitors who are close competitors and sets the stage for perfect competition. The perfect competition is a healthy competitive scenario for the market and its buyers. The scenario of perfect competition is such that no player has the power to fix the price of the products in the market. The...
4 Pages(1000 words)Essay
Main differences between perfect competition and monopoly market structures
...Main Differences between Perfect Competition and Monopoly Market Structures Perfect Competition Perfect competition refers to a market structure where buyers and sellers are many and are knowledgeable making any element f a monopoly not be in existence hence prices of commodities cannot be controlled by either the sellers or buyers (Marshall, 2007). Perfect competition firms are more than one, and because of this, the products they offer are identical despite the fact that they operate independently. Firms that are...
4 Pages(1000 words)Essay
IMPERFECT COMPETITION
...Imperfect competition Introduction The nature of the market structure is quite influential on the nature of the product or services offered by a firm. There exist numerous market structures in the business world and each structure has its own distinctive features. Essentially, it is imperative to consider the type of market structure before establishing a business enterprise. According to Ahlstrom & Bruton (2010), some earlier studies reveal that some business portray constant dismal performance due to ignorance of the proprietors/entrepreneurs on matters concerning market structures. Imperfect competition is one of the types of market structures that exists in the business field. Generally, an imperfect competition market can... be...
2 Pages(500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Outline on topic What are the main differences between imperfect competition and monopoly market structures for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us