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Essential guidance on economic science exam proficiency: Ten ways to turn a good economics exam paper into a great one Weesteps to military rank - tap your A2 economics marks Revision materials on the political economy blog: AS small | AS Macro | A2 Micro | AS Macro A2 securities industrys & Market Systems Market Structures - Summary some other summary note on the mark characteristics of food commercialize place structure. Market structure is best defined as the organisational and other characteristics of a commercialise. We focus on those characteristics which affect the character of competition and pricing but it is important not to perpetrate too much emphasis simply on the market share of the existing firms in an industry.

Traditionally, the most important features of market structure are: The number of firms (including the scale and extent of foreign competition) The market share of the largest firms (measured by the concentration ratio find out below) The nature of costs (including the potential for firms to exploit economies of scale and as well the presence of sunk costs which affects market contestability in the obstinate term) The degree to which the industry is uprightly integrated - vertical consolidation explains the process by which different stages in crossingion and distribution of a product are under the ownership and rule of a single enterprise. A good example of vertical integrating is the oil industry, where the major oil companies own the rights to kindle from oilfields, they officiate a fleet of tankers, operate refineries and have command of sa! les at their own filling stations. The extent of product specialisation (which affects cross-price elasticity of demand) The structure of buyers in the industry (including the disaster of monopsony power) The turnover rate of clients (some successions known as market churn) i.e. how legion(predicate) customers are prepared to switch their supplier over a given time period when market conditions change. The rate of customer churn is stirred by the degree...If you want to get a full essay, raise it on our website: BestEssayCheap.com

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