Help For Your Introductory Economics Course

Here is one more milestone three tip that I’d like to share in order to help you determine the market structure of your industry. Perfect Competition and Monopoly markets are very rare, so it is most likely that your firm operates in a monopolistically competitive industry or in an oligopolistic industry. How do you figure out which market fits your firm’s industry? A great way to do this is by utilizing the four firm concentration ratio. Suppose that the distribution of sales in an industry is as shown in the chart below (market share). You should have already found the market share data for your industry in a previous critical element, but if you are working out of order or skipped over that element, here are some tips on how to find the market share for your industry. What is the four-firm concentration ratio for this industry? To find this, we add up the market share percentage for the top 4 firms. Four firm concentration ratio = 20% + 18% + 12% + 10% = 60% If the top four firms m...

There are various elements you must meet in the Overall Market section of your paper. I will summarize these requirements here, and then you can use the corresponding numbers (in bold) to find examples of each within the sample paper that follows. Market Share Market share is the percentage of an industry or market's total sales that is earned by a particular company over a specified time period. Market share is calculated by taking the company's sales over the period and dividing it by the total sales of the industry over the same period. You’ll need to cover the following in your paper: (1) Discuss the market share of the firm and its top competitors (2) Provide detail on the current percentages for your firm and its top competitors ( For more detail on finding market share data, take a look at this post .) (3) Present the data graphically (4) Describe the trend over time Barriers to Entry Barriers to entry represent something that keeps new firms from entering a...

Finding Market Share Data for Your Firm Statista is one of the best resources to find market data for your firm.  To access it, click on the A-Z Database List in the Quick Links box on the library home page . When the list of databases comes up, click on the letter "S" and then scroll to the bottom of the databases beginning with "S" and click on Statista . Simply type in the company name and the words "market share" into the search bar. If you can’t find what you’re looking for through Statista… Other databases available from the A-Z Database List that have market share information include: IBISWorld (search by company name and industries will come up; select an industry and then click on the "Major Companies" tab to view a bar graph and company descriptions of major market share holders) and   Mintel Reports (type in company name and "market share" and click on appropriate results).  Even with this criteria, the market share fo...