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Forms of market are:
1. Perfect competition: It is a market where there are numerous buyers and sellers who have perfect knowledge about the market and the products. There are no restrictions on the entry or exit of firms and products are homogenous.
2. Monopoly: It is a market structure in which there is only one seller who can control the supply of a particular product or service. The seller has the ability to set prices and restrict competition.
3. Oligopoly: It is a market structure where there are only a few large firms dominating the market. These firms have significant market power and can influence prices and product offerings. There may be barriers to entry for new firms.
4. Monopolistic competition: It is a market structure where there are many sellers who offer slightly differentiated products. Each firm has some control over its own price and can differentiate its product through branding, marketing, and advertising.
5. Duopoly: It is a market structure where there are only two firms that dominate the market. These firms may collude or compete with each other to gain market share.
6. Oligopsony: It is a market structure where there are only a few buyers who have significant market power. These buyers can negotiate lower prices with suppliers and have control over the market.
7. Monopsony: It is a market structure in which there is only one buyer who has control over the demand for a particular product or service. The buyer can set prices to its advantage and restrict competition.
8. Bilateral monopoly: It is a market structure where there is a single buyer and a single seller. Both the buyer and seller have significant market power and negotiate prices and quantities to their advantage.
Note: There are other forms of market structures as well, such as contestable markets, monopolistic competition, and monopsonistic competition, but these are less commonly observed in practice.
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