3. Name different types of markets.
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The five major market system types are Perfect Competition, Monopoly, Oligopoly, Monopolistic Competition and Monopsony.
Perfect Competition with Infinite Buyers and Sellers. ...
Monopoly with One Producer. ...
Oligopoly with a Handful of Producers. ...
Monopolistic Competition with Numerous Competitors. ...
Monopsony with One Buyer.
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