Types of Markets with Examples

Oligopoly market:

Oligopoly market is the situation where there are only a few sellers in an economy who control particular commodity. They influence prices and affect competition.

Example:

Mobile telephone operators like Reliance Jio, Airtel, Idea.

Duopoly:

A market where two big brands control most of the products sold and influence the factors of selling.

Example:

Visa and Master cards of a bank.

Perfect competition:

It is like a tons of sellers selling the same product and tons of buyers for that product have good knowledge of what it does and how it works.

Example:

An Indian fish market is an best example. A lot of people go to buy fishes in the same market.

Monopoly:

Monopoly is the market where the market is dominated by only one seller.

Example:

The cable companies of India.