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 clichés
- 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