Market structure describes how firms compete, how prices are formed, how much choice consumers have, and how easy it is for new firms to enter an industry.
Perfect competition
Many sellers offer similar products, and no single seller controls the market price.
Monopoly
A single seller dominates supply, often because of legal rights, infrastructure, resources, or network effects.
Oligopoly
A small number of firms influence market conditions and may compete through pricing, product features, advertising, or distribution.