1.
What is a market?
The market structure results primarily from the number and power of the market participants.
What is more important, is the resulting competitiveness.
It is also a description of supply and demand.
There are 3 main structures:
1. Polypoly (many suppliers)
3. The market structures
It is derived from the Latin word mercatus
Potential buyers and sellers meet in a market (market participants)
The process of determining the prices for goods and services plays a major role here.
The coordination of supply and demand is also important.
The pricing is determined by:
o Cost o Market o Competition
Suppliers and buyers are necessary to get a price for goods.
Goals: low expenses & highest possible income
There are also 7 pricing models.
o Hourly Pricing o Project-based pricing o Retainer pricing o Value-based pricing o Package pricing o Performance-based
pricing o Equity pricing
