Assignment: Analyze a Market
Read and answer the questions.
1. Choose a product you know about and identify the company that produces it.
2. Name as many companies as you can that compete with your firm for sales of the product you identified.
3. Compare the competitions' products to your product. Are they exactly the same, similar, very different? Explain.
4. What is the basis on which the companies compete? Price? Product differentiation? Other? Explain.
5. What kind of market structure describes the industry you've chosen: perfect competition, monopoly, monopolistic competition, oligopoly?
6. Do you think this is the most common market type in the United States? If not, what do you think is?