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Give an example of at least one product or service that you have purchased from what you consider to be a perfectly competitive market, a monopolistically competitive market, an oligopoly and a monopoly. For each of your four examples provide evidence or support for why you think each product or service was purchased from a particular market type.
Explain which market type you think lead to the most desirable outcomes from the viewpoint of society. Be specific in identifying what outcomes you consider important. Provide evidence or a rationale to support your view as to which market type you think is most desirable.
This document contains various important questions and their appropriate answers in the subject field of Economics.
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