Question

Please discuss this below and give feedback. Thank you.

In many developing nations, we have highly competitive markets; even monopolistic-like firms earn profits. However, in many other countries, consumers rely mostly on the small business owner to generate sales such as local bakeries, butchers, etc.

Answer 1

the structure of a market depends upon various factors like, availability of resources, demand conditions, size of the market, consumer confidence, consumer preferences, cost and profit conditions etc. where some places have more consumers and consumer demand for goods some plces have less and specific demand for somegoods and services so at places like that small business owners like bakeries and butchers generate sales. but in bigger town areas where consumers have access to anywhere and every where market are more of bigger size and more competitive.