Market Structures

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Market in the first place is any arrangement that provides a medium for exchange or trade between buyers and seller.Market structure in the same temple is simply the number composition of either of the diffrnt market agents(buyers and sellers) in the market and their type of operations. They include; 
* Oligopoly: here there are few firms in the market dominating the market share majority together.
 *Oligopsony:here there are many producers with relatively few consumers compared to the number of producers. *Duopoly: is when only two firms exist in the market and they both control the market share together. 
*Monopoly: here there is only one producer of a particular product which gives the producer opportunity to influence price at will. 
*Monopsony:its the opposite of monopoly,its when there is only one buyer or consumer of a particular product with many producers in the market. 
*Monopolistic competition: this is synonymous with competitive market.there are many firms in this type of market with each having a small propotion of the market share 
* Natural monopoly: is when a firm in its single capacity cam meet the demand of the whole market at a minimal cost compared to two or more markets meeting the same demand. 
* Perfect Competition: as the name implies,its a market with all the best of human fantasies. No barriers to information on both the sides of the buyers and sellers. Free entry and unlimited number of consumer and producers exist. It has a perfectly elastic curve. 
This type of market is actually on realistic. Its theoretical. The above markets type are the major market structure types attainable.

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