market structure

Definition

The collection of factors that determine how buyers and sellers interact in a market, how prices change, and how different levels of the production and selling processes interact. The four basic types of market structure include oligopolies, monopolies, perfect competition, and monopsony (where only one buyer is present in the market).

Use market structure in a sentence

As new firms and players enter and exit a specific market the overall market structure changes.

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monopolistic competition imperfect competition