Market Structures in the Philippines
MARKET STRUCTURES IN THE PHILIPPINES “A term paper submitted as a partial fulfillment of the requirements in Microeconomics”
Submitted by : Jake Kevin P Borja BSBM – IIB Submitted to: Ms. Azelle Agdon
Date of submision : October 10, 2012
I. Introduction
Any study of economics has to begin with an understanding of the basic market structure of the country. An economy is made up of producers of goods and services, of traders who make these goods and services available in the market, of consumers who buy the goods and services and so on.
Philippine is an industrialized country wherein there is a lot of establishments and firms inside it. A of lot competitions here like retail trade, including restaurants, clothing stores, convenience stores, gasoline stations and etc. We all have the freedom to enter a new business firm, we just need the extensive knowledge of prices and technology. The real world is widely populated by competitors whereas half of the economy’s total production comes from competitive firms.
A market structure is characterized by a large number of small firms but not identical products sold by all firms. These are the four basic market structure in the Philippines, Pure competition, monopoly, oligopoly and cartel. Competitors have typically small firms, absolute and relative and capital requirements are low. Competitive industries is relatively easy but we have to know the market structure where we will establish our own business because if not nothing prevents an competitor from holding a going out of business sale and shutting down.
II. Pure Competition The market consist of buyers and sellers trading in a uniform commodity such as wheat, copper or financial securities. No single buyer or seller has much effect on the going market price. A seller cannot change more than the going price, because buyer can obtain as much as they need at the going
Submitted by : Jake Kevin P Borja BSBM – IIB Submitted to: Ms. Azelle Agdon
Date of submision : October 10, 2012
I. Introduction
Any study of economics has to begin with an understanding of the basic market structure of the country. An economy is made up of producers of goods and services, of traders who make these goods and services available in the market, of consumers who buy the goods and services and so on.
Philippine is an industrialized country wherein there is a lot of establishments and firms inside it. A of lot competitions here like retail trade, including restaurants, clothing stores, convenience stores, gasoline stations and etc. We all have the freedom to enter a new business firm, we just need the extensive knowledge of prices and technology. The real world is widely populated by competitors whereas half of the economy’s total production comes from competitive firms.
A market structure is characterized by a large number of small firms but not identical products sold by all firms. These are the four basic market structure in the Philippines, Pure competition, monopoly, oligopoly and cartel. Competitors have typically small firms, absolute and relative and capital requirements are low. Competitive industries is relatively easy but we have to know the market structure where we will establish our own business because if not nothing prevents an competitor from holding a going out of business sale and shutting down.
II. Pure Competition The market consist of buyers and sellers trading in a uniform commodity such as wheat, copper or financial securities. No single buyer or seller has much effect on the going market price. A seller cannot change more than the going price, because buyer can obtain as much as they need at the going
References: http://www.scribd.com/ http://www.britannica.com.ph/ http://www.investinganswers.com/ http://www.enotes.com/ http://www.newphilrevolution.com/ Economics for managers