Within which market structures do the firms that produce these products operate?

Question

List the brand names you routinely buy. Then discuss why you prefer to use these particular brand-name items. Within which market structures do the firms that produce these products operate?

Answer 1

I would give an illustration that applies to hypothetical buyer in the US. You need to replace the actual names to review your position.

List of brand names you routinely buy:

1. I routinely buy ABC labelled butter - I like the yellowish colur and the salty taste - the market structure is Monopolistic Competetion  virtually close to perfect competetion as there are many, many brands competing in the market for table butter.

2. I routinely buy SONY blank CDs to record music - I find that their recording and reproduction is faultless and matches my systems - Its market structure is Oligopoly since there are only a few brands that manufactures and sells blank CDs

3. I rutinely buy Heinekein beer - because I like its smoothness while drinking and quality - its market structure is oligopolistic because there are only few branded beer manufacturers and sellers.

4.. I routinely buy  Pizza from Dominios because they give more fillings and the taste of the sauce is excellent - they are in the market structure of Oligopoly because there are only a few sellers of Pizza in my area.

5. I routinely buy electric power from XYZ co. because I have no alternative source in my area - they are a regulated monopoly

6. I routinely buy Kodak photo films because I have been used to since my father was using the same- they are in virtually Duopoly because the other relevant player is Fiji. Between them these two control the market.

7. I routinely buy Pepsodent tooth paste because I find that they are the cheapest - their market structure is monopolitic competition and close to paerfect competetion as there are many producer and sellers of toothpaste.

8. I buy XYZ brand stationery writing pads because given their quality they cost the same as other brands - the market structure is clode to parfect competetion with many, mant brands.

9. I routinely buy  rice of whatever brand available in the market because the prices are the same - their market structure is perfect competetion with many buyers and many selleres.

10. I  routinely buy harcutting services from a shop in the mall I visit frequently because the hair cutting charges are the same everywhere  but I like the barbers there - the market structure is perfect competetion.