Index
Introduction - 1
Defining A Market - 2
The Importance Of Competition - 3
The Result Of Competition - 4
Intervening In Markets - 5
The Allocative Role - 6
The Distributive Role - 7
The Regulative Role - 8
The Regulative Role (continued) - 9
The Role Of Government - 10
The Role of Government (continued) - 11
The Stabilizing Role - 12
Vertical and Horizontal Integration Defined - 13
Defining Market Structure - 14
How A Firm Can Grow - 15
Mergers and Takeovers - 16
Vertical And Horizonal Integration (Diagram) - 17
Why markets Vary in Structure - 18
Product Differentiation - 19
Product Differentiation (continued) - 20
Free Range ''Googs''- 21
Product Differentiation (continued) - 22
Non Price Competition - 23
Non Price Competition (continued) - 24
Defining The Types Of Market Structures - 25
Perfect Competition - 26
Perfect Competition (continued) - 27
The Market For Oranges - 28
The Market For Oranges (continued) - 29
Bitter Oranges - 30
Summary: Perfect Competition - 31
Monopolistic Competition - 32
True Blue Oranges - 33
Monopolistic Competition (continued) - 34
Oligopoly - 35
Oligopoly (continued) - 36
Oligopoly (continued) - 37
Kinked Demand Curves - 38
OPEC - 39
OPEC (continued) - 40
Monopoly - 41
Microsoft - 42
Why Monopolies Are Inefficient - 43
Revision Questions On Market Forms - 44

Introduction - 1
There are a lot of ''markets''. Some markets are local; you may be willing to compare prices for fruit and vegetables in a few shops in your local area, but you would be unwilling to go across the city to find out more information. Some markets are national. Many firms sell goods across Australia. Some markets are global. Increasingly, Australians are involved in the world economy, whether they know about it or not.

Most of us are aware of the sharemarket and the exchange rate of the Australian dollar; items referred to every night on the evening news. The value of the Australian dollar rises and falls against other currencies, because of the actions of buyers and sellers in the ''Forex'' market; greater detail on this market will be given later.

However, there are many other markets; the labour market being an important one for young job seekers.

But what is a ''market''?