Unit 4 Business Environment - Investigate the behaviour of organisations and the market environment
Market Types
Markets
There are many theoretical ecoomic models of markets, the two extremes are perfect competition and monopoly. These are theoretical extremes which do not reflect the actual markets which exist for goods and services in the real world, however they do provide the end points of the spectrum in which markets operate.
Perfect Competition
Perfect competition is a model of a market in which there are many suppliers and many consumers.
