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Briefly explain four natures of competition.

      

Briefly explain four natures of competition.

  

Answers


Lellah
1. Pure competition: Pure competition occurs when every company has similar products /those firms that deal with similar products and buyers and sellers are free to enter and exit the market
2. Monopolistic competition: situation where there are many sellers and each has a relatively small market share.
3. Oligopoly: deals with similar product but characterized by few sellers who control most of the market
4. Monopoly: business controlled by one firm who controls the production and sales of goods and services.

Lellah answered the question on November 3, 2021 at 13:00


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