5 Things and their Market Structure
1. Running Shoes-Monpolistic Competition- There are a lot of different companies that make running shoes. They have some control over price and they each try to put emphasis on their brand names. It would be pretty easy to start in the business.
2. Car-Oligopoly- Their are few number of car companies that are well known and it would be extremely difficult to start in this business. They typically try to give you a great deal.
3. Electricity-Pure Monopoly- There is only one company that is well-known and it would be impossible to start in the business. It is a public relation.
4. Clothes-Monopolistic Competition- There are a lot of different clothes brand, which try to put emphasis on their brand name. It would be easy to start in the business.
5. Farmed Goods- Pure Competition- Their is a very large number of firms which produce this. They have no control over price and it would be very easy to start in the business.