scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 1,047
Nowadays a lot of businesses are running under the different market structures In fact there are four different types of market structures operating in the real world market competition In order to lay out them they are perfect competition monopoly monopolistic competition and oligopoly In this essay it will determine the differences between the perfect competition model and the Theme Park industry The perfect competition can be defined as a market structure characterized by a large number of small firms a homogenous product and very easy entry and exit from the market in comparison the Theme Park industry can be defined as a large outdoor area where people pay to go to enjoy themselves All the different attractions in a theme park are usually based on the same idea or theme which apply to the oligopoly market structure The following essay will be discussed under the aspects market structures policy of theme park and the economic theories In the first place there are some differences between the perfect competition and the oligopoly market structure Firstly business which is running under the perfect competition market structure there is a large number of small firms each firm acts independent rather than coordinating decision collectively For instant there are thousands of fruit farms in Australia under the competition any single farm raises or lowers their price the going market price for each kind of fruit is unaffected In addition if the product belongs to a homogenous then the buyers are indifferent as to which sellers product they buy This means the good or service of each firm is identical all firms produce as standardized product in the market place Thirdly it is very easy for a new firm to enter the market and also for some firms to exit In other words there are no contractures or legal reasons why it must continue the perfect competition requires that resources be completely mobile to freely enter or exit
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA