The economic model that compares the amount of competition among businesses in a similar industry is known as market structure.
Market structures describe the nature, presence or absence, and degree of competition among companies, in the same industries.
The theoretical model of an ideal situation in a free enterprise economy developed by economists is known as “perfect competition.”
Other market structures include:
Thus, the economic model that compares the amount of competition among businesses in a similar industry is known as market structure.
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