Discussion Post: Market Types and Outcomes
Complete the following requirements in your initial post:
a) Research a company in an industry that you are familiar with or have interests in. For example, perhaps you have an interest in electronic products, and BestBuy is your favorite company. Provide a brief background of the company, its products, and size (in one paragraph).
b) Provide a URL to a website that provides information about the company.
c) Identify the type of market you believe operates in perfect competitive, monopolistically competitive, oligopoly, or monopoly. Explain your rationale and list (at least 6) market characteristics (from the market structures chart) that pertain to the company. (Make sure it corresponds to characteristics listed in the LearnSmart activities or Guided Practice videos.)
d) Discuss the company's market strategy. How does this company compete with other companies in the marketplace?
e) How does government regulation affect the company? Highly regulated or nominal regulation? Identify at least two types of regulations and discuss the costs of those regulations.