Differentiating Between Market Structures

There ar many different industries in this democracy that makes up our vast market of products that ar provided for the people. Within those industries be the different establishments that make that industry what it is. One of the biggest industries in the instauration would be the anele industry; energy is something that everyone uses to power their homes, cars, and a lot their life. The fossil oil companies that make up this vast industry ar non that many at all but are very express. Depending on where the crude oil is shipped from it can be from a company that has a monopoly in their country or from one that is oligopoly. The company Chevron is one of the top oil refiners owned by America (Oil Providing Energy for Progress, 2012) and since on that point are a confine amount of these companies with a lot of consumers it is an oligopoly.
The itemization of be adrift refiners in the linked States are very keep down and are not to be confuse with the stores that sell the gas to the general public. Being that Chevron is one of the few oil companies in America it falls under the oligopoly category, since there are few firms and high demand. Seeing how there is a limited amount of organization in this industry it being an oligopoly social system would be the step to take.



It could not be a monopoly because there are other competitive oil companies in the United States even though they are few since operating such a business cost millions of dollars. Oil is something that has been hard to turn for even though there are many companies arduous to look for safe alternatives for oil. That being said this why these types of organization could not be prefect competition there are a lot of buyers but the sellers are very much limited on the oil refiners level. The reason why this company could not be a monopolistic competition is because it is not in a market where similar non perfect products can be produce (Colander, D. C, 2010). The best fit for Chevron would be the oligopoly (Petroff, J, 2002) sightedness how...If you want to get a full essay, order it on our website: Ordercustompaper.com



If you want to get a full essay, wisit our page: write my paper