Type of market
|
Examples
|
|
1
|
Perfect Competition
|
a)
Paints industry like Asian paints, Nerolac, etc...
where the nature of products is Homogeneous.
b) Foreign currency Exchange
c)
Stock markets
|
2
|
Monopolistic competition
|
a)
McDonalds which
is into the field of fast foods (with many firms like KFC, Subway, etc.. in
the field) which has close substitutes to the items but not perfect
substitutes.
b)
Green trends (Salon)
|
3
|
Oligopoly
|
a)
Airlines, where the nature of services are
homogeneous but have entry barriers & no. of firms in that field are
less.
b) Medical stores like Apollo, cipla, glenmark, etc..
|
4
|
Monopoly
|
a)
ISRO, where the
nature of service is unique & restricted one & it’s the only firm in
the industry.
b)
Railways
c)
Municipal
corporations
|
Economics when applied to real life sounds beautiful. this blog is for those students who are discovering the different facets of economics applications and want to share their discoveries.
Saturday, September 15, 2018
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