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  2. Perfect competition, monopolistic competition, oligopoly, and monopoly
    • According to 3 sources
    Four basic types of market structure characterize most economies: perfect competition, monopolistic competition, oligopoly, and monopoly. Each of them has its own set of characteristics and assumptions, which in turn affect the decision-making of firms and the profits they can make.
    There are four types of competition in a free market system: perfect competition, monopolistic competition, oligopoly, and monopoly.
    The four main types of market structures are perfect competition, monopolistic competition, oligopoly and monopoly. The more competitors in a market, the more likely it is that prices can stay fair and competitive for customers, and in some oligopoly and monopoly markets, government regulations can keep companies from charging unfair prices.
     
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