Market Structure And Maximizing Profits

Market Structure and increase Profits
Kimberly Stachowski
XCEO/212
University of Phoenix

Market Structure and Maximizing Profits

The paper discusses the different economic market structures with their respective characteristics and expense strategies to maximize profits. Economists assume that competition in the market determines the price of any product as well as the accessibility of labor and their wages.
An providence is classified in the broader meaning of quadruplet basic market structures namely perfect competition, monopolistic competition, oligopoly and monopoly. each(prenominal) structure differs from another as its characteristics rely upon the number of competitors they halt and the fount of product they are producing.
Mixed economy is a method of organizing the economy to produce goods and services. Under this economic system, rough goods and services are supplied by common soldier enterprise and others, typically basic infrastructure goods and services such as electricity, postal services and water return are provided by the state. The combine economy is a characteristic feature of most present-day(prenominal) developed and developing countries, pure or totally private enterprise economies and centrally planned economies being rarely encountered.



The on the nose mix of private enterprise and state activities to be base in particular countries, however, does vary substantially between these 2 extremes and is very much influenced by the political philosophies of the country concerned.
An economy under which the government intervenes in certain sectors to compensate for comprehend market failureâ€"whether of growth, efficiency, or distribution. A involved economy occupies a position between an unplanned economy with no government interference and a command economy of the type that prevailed in the former Soviet Union. In a mixed economy, as in an unplanned economy, prices respond flexibly to supply and demand; competition ensures that firms make intensive use of...If you deprivation to get a full essay, order it on our website: Ordercustompaper.com



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