This refers to the characteristics of a market, particularly those affecting price and competition.
There are four basic types of market structure – Monopoly, Oligopoly, Monopsony, and Perfect Competition. Characteristics of a market’s structure include the quantity and relative strength of buyers and sellers, the degree of collusion between them, the level of competition and the ease of market entry/exit.
Market Structure is a term normally found in business economics and financial management.
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