Essay about market structure

Modern economics is based on market structures. When we talk about market structure we mean the way companies compete with each other in a particular market.
There are two market structures in the real economics - perfect competition and imperfect competition. Perfect competition describes a market structure where the companies have less control over price than the consumers. There must be a lot of small companies which provide perfect substitutes, have complete information and access to resources. Also, there must not be any barriers to enter the market. It is hard to follow these conditions. That’s why we have the second type of market structure which is called imperfect competition.