In order to comprehend the ontological construction below, please refer to the respective posts for all notions in italic.
Market structure depends on the number of entrepreneurs on the market and is defined by their supply and demand. Single buyers and sellers constitute monopoly and monopsony; a few buyers and sellers practice oligopoly and oligopsony; numerous buyers and sellers are in monopolistic competition or perfect competition. According to the economic behaviour, inherent in every market structure, is given the kind of profit or consumer surplus sought and the viable market share for every enterprise.
Historical Backdrop
• MAX LORENZ Methods of Measuring the Concentration of Wealth: concentration of wealth.
• ALBERT HIRSCHMAN National Power and the Structure of Foreign Trade: index of unequal distribution and fewness.
• ORRIS HERFINDAHL Concentration in the U.S. Steel Industry: concentration index.
