Question

Being a student of economic identify the market structure of smartphones and also explains which type of game, smartphone seller have to play for matual gain.​

Answer 1

Answer:

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Smartphones are a class of mobile phones and of multi-purpose mobile computing devices. They are distinguished from feature phones by their stronger hardware capabilities and extensive mobile operating systems, which facilitate wider software, internet (including web browsing[1] over mobile broadband), and multimedia functionality (including music, video, cameras, and gaming), alongside core phone functions such as voice calls and text messaging. Smartphones typically contain a number of metal–oxide–semiconductor (MOS) integrated circuit (IC) chips, include various sensors that can be leveraged by their software (such as a magnetometer, proximity sensors, barometer, gyroscope, or accelerometer), and support wireless communications protocols (such as Bluetooth, Wi-Fi, or satellite navigation).

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Answer 2

The market structure of mobile phones is oligopolistic and they should play with the prices to have mutual gain.

Explanation:

• Oligopolistic market has a lot of players competing with each other in the same product vertical. There will be a lot of demand in the market too. Hence the competition between the sellers is relatively high.
• In order to perform well, a seller must compete with discounts, freebies, and better services.
• Here, the players in the markets are treated equally and it's their service that demarcates and highlights them among a pool of sellers.  

To learn more:

State any one feature of oligopoly.

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what is demand and supply?

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