Market structure is how a market is organized: how many sellers there are, and how much any one of them can set the price. Economists sort markets into four structures: perfect competition, monopolistic competition, oligopoly, and monopoly. The range runs from many sellers who cannot set the price to a single seller who can.

Related Lessons:

• Click Here for our lesson on Benefits of Competition
• Click Here for our lesson on Competitive Advantage
• Click Here for our lesson on How to Price Your Products & Services
• Click Here for our lesson on Government Impact on the Economy