Market Structure
Characteristics of market affecting competition.
Real World
The UK supermarket industry is an oligopoly dominated by Tesco, Sainsbury's, Asda, and Morrisons — meaning price wars (like those triggered by Aldi's growth) affect all players simultaneously.
Exam Focus
In 'analyse' questions, link market structure directly to business behaviour (e.g. oligopoly → interdependence → price rigidity) rather than just defining the structure.
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