market structures

a monopoly only has one producer

a monopoly produces a one of a kind good or service that no one else provides

high barrier to enter a monopoly which is what makes monopolies possible

can set prices at whatever they want without fear of being undercut by competetors because there is none

has a large portion of producers

seeks to have differnt goods and services than other firms

there are very few barriers to entry and start up costs are low

since producers control thier brands they have some control over brands

externality

positive externality

a benefit that falls on someone other than the producer or consumer

negative externality

a cost that falls on someone other than the produser or the consumer

few producers

similar products

barriers of entry are usually very high

since there are few producers there is only some control over prices

has a large number of producers and consumers

products in this market a virtually identical

easy entry since there are few restrictions to enter the market

no control of prices, instead market forces of demand and supply determine these things