Tuesday, December 7, 2010

Post 3 - Pick 5 things you wanted to purchase/actually did purchase recently and identify the market structures the product exists in. After each item - write 3-4 sentences explaining your opinion.

1) Oligopoly - Cereal - there are a wide range of similiar cereals that available for everyone to purchase. Since there is no one company creating cereals, these area is an oligopoly.

2) Monopoly - PSEG - PSEG is an example of a monopoly since in this area, this is the only company we are able to recieve electric from. Since there are no other companies competing PSEG is a monopolistic Company.

3) Oligopoly - Phone Companies - since there are multiple phone companies to choose from such as Verizon, Sprint, T-Mobile, AT & T, there is no one phone company controlling the market, which allows each company to take part in the competition which is an Oligopoly, they are all different companies doing the same thing

4) Monopolistic Competition - Kinect - Since Kinect is the only gaming camera capable of making you the controller without actually using a remote, it doesn't allow consumers to pick another product. The only other products out are motion sensor gaming which is the same concept as Kinect but different allowing Kinect to be a Monopolisic gaming add-on

5) Oligopoly - Lacrosse Sticks - Companies that make lacrosse sticks such as brine, stx, reebok, maverick, nike, warrior all make lacrosse sticks that are similiar, this allows consumers to pick which company they would like to purchase from, making these companies an Oligopoly.

No comments:

Post a Comment