Perfect and imperfect competition

[@michaelpisciarino5348]

Overview of Types of Markets 0:18 Product Market and Resource Markets *Products* = Shirts 👕 , Cars 🚗, etc. 1:17 *Resources* = Labor, Land, Capital, Entrepreneurship 🧐🎩 2:16 *Monopoly* = 1 firm in market, many buyers Price Setter 2:56 High Barriers to Entry, Granted through intellectual Property/patents. 3:51 *Perfect Competition* = many firms and buyers. - Price Taker - No barriers to entry, no differentiation (ex. Milk. Many firms make it, it is mostly the same from all firms) 6:04 *Oligopoly* (ex. Aircraft Industry ✈️ ) \ High Barriers \ A Few Firms 7:03 *Monopolistic Competition* (ex. Cereal Industry 🥣 ) / Low barriers / Some differentiation (e.g. Branding, Advertising) 9:13 *Monopsony* + 1 buyer, many suppliers Ex. One firm in town has full access to resource market

[@RaysharahAshari]

I love how you uploaded after I took my Economics final

[@mawi3295]

hhhhhh still can be relevant …..!

[@eca3101]

This man uploads this 3 days after my econ final smh

[@VickiBee]

Eric, my daughter's dad, had a college degree in business. He's the only one I ever heard use the word oligopoly and frankly, I thought I heard him wrong. I thought he was mispronouncing monopoly.

[@adamh2077]

Ok this was a confusing comment. 1. Don't use names on the internet 2. "my daughter's dad" So you are either referring to yourself or your husband. Judging by your profile, it's the latter, therefore your husband's name is Eric 3. Oligopoly and monopoly are phonetically very different. I'd have personally thought he was just... saying a different word.

[@tajindersingh3824]

@@adamh2077 don't care didn't ask

[@kyleespinas4702]

🤓shut up you goofy nerd 🤓

[@freddy77.]

@@tajindersingh3824 who tf are you anyway?

[@helpmebro3]

Give this man a donut

[@travisschumacher3178]

I dont get the joke in your comment? Please elaborate?

[@helpmebro3]

@@travisschumacher3178 it's not a joke. It's a complement.

[@alimobeen7572]

Thanks, this was very informative!

[@christopherjohnson1873]

Funny, he's making some of these videos just *after* my final in microecon. Still did well, though.

[@axelmoreno57]

Hi Sal, I wanted to ask if it’s okay if you would try to go over concavity, points of inflection, and the derivative test? I’m at a point in my calculus class where I nearly failed it because I’m having a problem understanding the following topics. Best, Axel M.

[@kranx0x0x0]

Ito na yun sa Soc Stud MAYGHAAD

[@nicolastorres147]

Monopsony would actually be to the left of perfect competition

[@untwerf]

Just a quick question: you know all these new economics videos that Sal is uploading to KZbin? Are they also accessible via the khan academy app? Because I've only been able to find his older Econ and finance vids in the app so far ..

[@Flow86767]

We have etched perfection

[@singerpurananandjha3804]

What is the meaning of barrier here ?

[@f1r2a3n4c5i6]

ti si ama! (we love you)

[@nickcorona3966]

Why don't you mention obvious government monopolies? such as state-run liquor stores.

[@natemanson2255]

2nd comment !