In
economics, market structure (also known as market form) describes the state of a
market with respect to competition.The major market forms are:
Perfect competition, in which the market consists of a very large number of firms producing a homogeneous product.
Monopolistic competition, also called competitive market, where there are a large number of independent firms which have a very small proportion of the market share.
Oligopoly, in which a market is dominated by a small number of firms which own more than 40% of the market share.
Oligopsony, a market dominated by many sellers and a few buyers.
Monopoly, where there is only one provider of a product or service.
Natural monopoly, a monopoly in which
economies of scale cause efficiency to increase continuously with the size of the firm.
Monopsony, when there is only one buyer in a market.
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