Download pure competition is a situation in which the market for a product is

Pure competition is a situation in which the market for a product is populated with so
many consumers and producers that no one entity has the capacity to influence the
price of the product sufficiently to cause a fluctuation, and sometimes referred to as
perfect competition. Such as agricultural commodities like soybeans, oats and
potatoes. In this market structure, price is determined solely by the forces of supply
and demand.
Monopolistic competition is a market in which many competitors provide similar
products which can be distinguished on the basis of characteristics which go beyond
simple cost. Every business has their own price and the corresponding products. For
example, cars, phones, computers and purses. They all have the same product, but
they separate in their design, price points, colors, and shape. They usually release
their products ’ special attention to attract customers.
Oligopoly is an economic condition in which there are so few independent suppliers
of a particular product that competitive pricing is not conducted. For example,
Verizon, AT&T, Sprint, and T-Mobile. But this is not all monopolies. There are still
some small companies in a similar business.
Monopoly is a market structure characterized by a single seller, selling a unique
product in the market. They don’t have competitors, because they are the exclusive
distributor. For instance, government license, ownership of resources, copyright and
patent and high starting cost make an entity a sole seller of goods. This type of market
has a special place. It is a price maker enjoys the power of setting the price for his
goods.