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Difference between Monopoly and Monopolistic market

Submitted by frndzzz on Sat, 10/21/2017 - 06:11

Some of the difference between monopoly and monopolistic market are as follows. So let us check it out some information on monopoly to know more about monopoly.

  1. In Monopoly market there is only one producer of a product while in monopolistic market there are large number of producers.
  2. In monopoly market there is no difference between industry and firm and in monopolistic market there are many firms and the industry is called a group.
  3. In monopoly market there is no product differentiation while in monopolistic market every producer produces differentiated products.
  4. Also check out some advantages & disadvantages of Monopoly to learn more about monopoly.

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What is Market economy ? Advantages and Disadvantages of Market Economy

Submitted by frndzzz on Fri, 03/15/2019 - 11:40

Check out Advantages and disadvantages of market economy (capitalism) given below. So let us find out some points on advantages and disadvantages to know more about market economy. This type of economy is nearly free fro governement interference, Economy is based on private ownership where individual control the production, distribution and sales of goods and services.

What is Monopsony and its examples ?

Submitted by frndzzz on Tue, 02/04/2020 - 05:58

Definition of Monopsony

Information on definition of monopsony and its examples is given below. Monopsony is a market condition in which a single buyer substantially controls the market as a major purchaser of services or goods offered by many sellers in the market. Monopsony is one of the important concept in economics but it has both advantages and disadvantages in the over all market structures. Monopsony also has imperfect market condition.