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Writing A Solid Term Paper On The Market Structure: Helpful Guidelines

What is a market structure?

Market structure refers to the characteristic features of a particular market that is, its organizational or pricing policies. The number of firms selling homogeneous commodities or services also describes a market structure.

Key features of market structure:

  • Number of sellers
  • Product type
  • Entry barriers
  • Pricing strategy

The various forms of market are:

  • Perfect competition - Under this market, there are a large number of buyers and sellers involved in the selling of a homogeneous product. There is no entry barrier.
  • Monopolistic - This market allows a large number of firms to enter into the market without any barrier selling differentiated products and the price of each does not affect one another.
  • Oligopoly - Under such a market structure, there are a few firms selling a commodity either.
  • homogeneous or differentiated in nature. The action of one firm affects the other.
  • Monopoly - Here there is only one seller selling the product and there is no close substitutes for that product. They are the price makers. It has entry barriers.
  • Duopoly - It is a special form of an oligopoly where there are only two sellers and the action of one affects the other.

Importance of market structure

  • To understand the requirements of the customers
  • To understand the customer buying behaviour
  • Analysis of the prospective competitors
  • Grasping business opportunities
  • Formulating business strategies
  • Developing business decisions

How to write a term paper?

  • Select the topic as per the length and research resources
  • Look for information by searching encyclopaedias, reference books, journals, magazines, browsing and newspapers
  • Do some analysis and thinking and jot down your thinking in a statement
  • Organize your data and information properly in a sequence
  • Make an outline for your term paper which includes introduction, body and conclusion
  • Your term paper should be such that your knowledge about the subject is evident
  • Try using simple English
  • Try using active voice
  • Try to use more positive statements as they are more persuasive
  • Avoid using jargons and clich├ęs
  • Avoid using abbreviations or short forms
  • Avoid using a lot of assumptions
  • Rely on facts
  • Avoid being dramatic
  • Keep a close check on the technical aspects of the paper that is, it should be free of errors
  • Do not repeat sentences
  • If you use quotes or thoughts of others do not forget to cite the source
  • Properly number each page

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