Competitive Markets, Monopoly, Monopolistic Competition, and Oligopoly. Provide an example of a company that represents each market type. Explain your reasons for each example as to why you think that...

Market     3
MARKET
Table of Contents
Markets    3
Competitive Market    3
Monopoly    3
Monopolistic Competition    4
Oligopoly    4
References    6
Markets
A market is a financial institution in which the buyers and sellers come in contact with each other in order to conduct a transaction by which the buyers once a commodity of the services to satisfy his wants and seller sells his produced goods or services in order to earn profits.
Competitive Market
A market is said to be a competitive market when there is a large number of buyers and sellers. The commodities sold in the market are homogeneous and the firms sell similar kinds of products in the market. The buyers and sellers are aware of all the information in the market such as the demand, supply, and prices. Moreover, the buyers and sellers do not have any influence over the price of the commodities. The market mechanism or the price mechanism is solely responsible for determining the price in the market. Both the buyers and sellers are price takers (Pindyck, Rubinfeld & Mehta, 1995).
Example: Agricultural markets are the...