Market structures

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  • Good morning class today we are going to learn about different market structures
  • Market structures: Monopoly
  • Is that what monopolies and things like that are?
  • Economics is great
  • Yes Henry that is correct.can you give us a definition of a monopoly and can you Ella give us some characteristics?
  • Market structures: Monopoly
  • it's when a firm control  the market and has the power to do what it likes when    it comes to prices
  • Economics is great
  • In a monopoly: -there is one sellers -unique products -No competition
  • Thank you Ella, Penelope please can give us some examples of  monopolies in SA?
  • Market structures: Monopoly
  • in South Africa we only really have one example and that is Eskom
  • Economics is great
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