Question

Discuss the major characteristics that differentiates market
structures, by giving examples of companies in Greece

Answer 1

Market structures refers to structural variables which determine level of competition in a market.When we are talking about basic market structure then its monopoly,oligopoly ,monopolistic and perfect competition

Major characteristics are -

Number of firms - in this characteristic we compare that how many firms are there and then we decide the profitabilty of that firm.

Degree of concentration decides that how many shares are held by the market.

Nature of product and substitutes decides about the taking decision regarding price of the goods.

Entry and exist barrier will also effect the market structure.

Demand and cost curve is also one of the important point for deciding the market structure.

Companies in greece show a dual market structure they experience increase in level of concentration as well increase the number of new companies.