Types of market easy explainined (explainity®)
In Germany there is the economic order of social market economy. Among the features of our economic system include inter alia the free formation of prices for goods and services on the market. And now it gets complicated: There are many different types of markets, the absolute oligopoly , the monopsony and many more. In this videoclip we explain the characteristics and differences of the three basic types of markets “polypoly", "oligopoly” and "monopoly".
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