12

Applied Economics
Quarter 3 - Module 3
Market Structure
Applied Economics - Grade 12
Quarter 3- Module 3: Market Structure
First Edition, 2021

Republic Act 8293, section 176 states that: No copyright shall subsist in any work of
the Government of the Philippines. However, prior approval of the government agency or office
wherein the work is created shall be necessary for exploitation of such work for profit. Such
agency or office may, among other things, impose as a condition the payment of royalties.

Borrowed materials (i.e., songs, stories, poems, pictures, photos, brand names,
trademarks, etc.) included in this module are owned by their respective copyright holders.
Every effort has been exerted to locate and seek permission to use these materials from their
respective copyright owners. The publisher and authors do not represent nor claim ownership
over them.

Published by the Department of Education

Development Team of the Module

Writer: Warren G. Coquilla
Editor: Cristy Ann C. Sombilon
Reviewers: Mylene G. Coquilla, Crispina S. Ebdao
Illustrator: Warren G. Coquilla
Management Team:
Josephine L. Fadul- Schools Division Superintendent
Melanie P. Estacio- Assistant Schools Division Superintendent
Chistine C. Bagacay- Chief Curriculum Implementation Division
Leila L. Ibita- Education Program Supervisor- Araling Panlipunan
Lorna C. Ragos- Education Program Supervisor
Learning Resource Management

Printed in the Philippines by ____________________________

Office Address: Energy Park, Apokon, Tagum City

Telefax: (084) 216-3504

E-mail Address: tagum.city@deped.gov.ph

 12

Applied Economics
Quarter 3 - Module 3
Market Structure
Introductory Message
This Self-Learning Module (SLM) is prepared so that you, our dear
learners, can continue your studies and learn while at home.
Activities, questions, directions, exercises, and discussions are
carefully stated for you to understand each lesson.
Each SLM is composed of different parts. Each part shall guide you
step-by-step as you discover and understand the lesson prepared
for you.
Pre-tests are provided to measure your prior knowledge on lessons
in each SLM. This will tell you if you need to proceed on completing
this module or if you need to ask your facilitator or your teacher’s
assistance for better understanding of the lesson. At the end of
each module, you need to answer the post-test to self-check your
learning. Answer keys are provided for each activity and test. We
trust that you will be honest in using these.
In addition to the material in the main text, Notes to the Teacher
are also provided to our facilitators and parents for strategies and
reminders on how they can best help you on your home-based
learning.
Please use this module with care. Do not put unnecessary marks
on any part of this SLM. Use a separate sheet of paper in answering
the exercises and tests. And read the instructions carefully before
performing each task.
If you have any questions in using this SLM or any difficulty in
answering the tasks in this module, do not hesitate to consult your
teacher or facilitator.

Thank you.

1
 Let Us Learn!

After looking at the basic principles of demand and supply, it will

also be helpful to learn about the market structures in which sellers can
operate. Each structure will be described in terms of the nature of the product
being sold, the number of buyers and sellers in the market, and the ease of
entering or exiting the market, pricing power, and others.

In this lesson, you will be able to differentiate various market structure

in terms of number of sellers; types of products; entry/exit to market; pricing
power; and others.

Specifically, you are to:

 define market structure;
 categorize different market structure; and
 characterize its degree of competition, nature, and elements.

Let Us Try!

Activity 1. Picture Analysis!

Directions. Describe and give your own idea about the given pictures in terms
of the number of firms undertaking the same or similar kind of business or
industry. Write your output on a separate sheet of paper.

Daneco images- Google Search,2021 PAGCOR images- Google Search,2021

2
 Sari-sari store images- Google Search, 2021 mall images- Google Search, 2021

___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________

Activity 2. Tell Me What You Know!

Directions. Choose the letter of the correct answer from the given choices.
Write your answer on a separate sheet of paper.

1. What market structure that implies an ideal situation for buyers and
sellers?
a. Perfect competitive market
b. Monopoly
c. Monopolistic competition
d. Oligopoly
2. A single firm that sells in the market and has no close substitutes is
referred to as:
a. perfect competitive market.
b. monopoly.
c. monopolistic competition.
d. oligopoly.
3. It refers to the competitive environment in which the buyer and seller
operate.
a. Market structure
b. Market competition
c. Market environment
d. External environment
4. A type of imperfect competition where firms sell differentiated products
which are highly substitutable but are not a perfectly substitute.
a. Perfect competition
b. Monopoly
c. Oligopoly
d. Monopolistic competition

3
 5. What does it mean if an organization has significant economies of scale?
a. It is a large company with significant debts.
b. It is a large operation, its costs per product are relatively low.
c. It is a small operation, its costs per product are relatively low.
d. It is a large company with a wide range of product.
6. In a monopolistic competitive market, how many firms are there?
a. Fairly large number of firms with different degree of market.
b. Large number of firms with a high degree of market power.
c. Fairly large number of firms, each with a little bit of market power.
d. Fairly large number of firms with having no market power.
7. The individual firm operating under perfectly competition is
characterized as __________.
a. price-taker
b. one of a few sellers
c. a price strategist
d. price-maker
8. Which of the following is NOT a characteristic of a perfectly competitive
industry?
a. Free entry into the industry
b. Perfectly elastic demand curve
c. Product differentiation
d. Homogenous product
9. Which of the following market structures is NOT a price maker?
a. Monopolistic competition
b. Perfect competition
c. Monopoly
d. Oligopoly
10. When oligopolist collude to maximize industry profit they act like
a ____________.
a. duopoly
b. monopoly
c. imperfect market
d. company in monopolistic competition

Let Us Study
As a student, you are familiar with the word competition. You are
exposed to competition in school such as spelling bees, quiz bees, and sports
fests. On the television, you watch beautiful girls from all over the world
competing for the Miss Universe or Miss World title. You see how the various
teams of the PBA compete to win the championship. In business environment,
competition also occurs but on different degree and form depending on the
market structure.

4
 Market structure refers to the competitive environment in which buyers
and sellers operate. Competition is rivalry among various sellers in the
market (Villegas, 2010).
The market is a situation of diffused, impersonal competition among
sellers who compete to sell their goods and among buyers who use their
purchasing power to acquire the available goods in the market.
There are varying degrees of competition in the market depending on
the following factors:

 Number and size of buyers and sellers;

 Similarity or type of product bought and sold;
 Degree of the mobility of resources;
 Entry and exit of firms and input owners; and
 Degree of knowledge of economic agents regarding prices, costs,
demand, and supply conditions (Dinio et. al, 2017).

There are two types of market structure, the Perfectly Competitive

Market Structure, and the Imperfect Market Structure. Perfectly
competitive market possessed certain characteristics and elements. When one
or any of its characteristics is/are missing or is not present, the market
structure then becomes an imperfect market structure.

The imperfect market structure is classified as:

a. monopolistic competition;
b. monopoly; and
c. oligopoly.

Monopolistic

Perfect MARKET
Oligopoly
Competition STRUCTURE

Monopoly

Figure 1. Market structure.

5
The Market Models

Perfect Competition

A market structure in which a large number of small firms sell

homogenous products, buyers and sellers have good information, and
businesses can be easily opened and closed, meaning there is no barrier to
entry and exit in the market (Pagaso, 2006).

In this type of market structure, a homogenous product is sold by

sellers, which means the product is highly similar in such a way that
consumers will have no preference in buying from one seller over another. The
goods offered for sale are all exactly the same or are perfectly standardized.

Due to a large number of buyers and sellers, no decision-maker can

significantly affect the price of the product by changing the quantity it buys
or sells. Therefore, the seller is a price taker and has to follow the market price
in selling his products.

The standardized product offered by sellers means that the buyers do

not perceive differences between the products of one seller from that of
another. In construction materials, for example, the 10 mm deformed bars or
concrete hollow blocks will not contain any obvious difference whether you
buy in Tagum City or in Davao City.

Monopoly

A monopoly exists when a single firm that sells in the market has no
close substitutes. A market structure in which a single firm accounts for all
industry sales of a particular good or service and in which there are barriers
to entry (Introduction to monopoly- Boundless Economics,2021).

Monopoly enjoys a lot of power in the market. Monopolist's quantity of

output will be lower to enable him to set the price higher. To prevent abuses,
there is a need for stricter government laws.

Since monopoly is the only firm in the market, the firm is free to
determine its output level and its price. Once the firm determines its output
level, it also determines its price; thus, it is the price setter. The monopolist
faces a down-ward sloping demand curve; meaning, the lower the price, the
higher the quality that will be bought by the consumer.

Monopolistic Competition

Another imperfectly competitive market is monopolistic competition,

wherein products are differentiated, and entry and exit are easy. It is a so-
called monopolistic competition by the blending of monopoly and competition.
The firms in this structure sell differentiated products or heterogeneous
products, which are highly substitutable but are not perfectly substitutes.

6
 The firm under this market structure is given the opportunity to set
different prices by their product differences. Meaning, a seller can set a higher
price because it has something different to offer to its buyers but without
losing much of its customers. The firm tends, therefore, to engage in non-
price competition. This refers to any action a firm takes to shift the demand
curve for its output to the right without having to sacrifice its price
(Monopolistic Competition Definition, 2021). This may include increasing the
appeal using brand, flavor, packaging product guarantees, free home delivery
and advertising. The firm can either charge less price to sell more or it can
even increase its price without losing its customers because it has the
capacity to develop loyalty to its customers. Therefore, the sellers in this type
of market structure are price setters.

Oligopoly

It is a market structure dominated by a small number of strategically

interacting firms. Few sellers account for most of the total production since
barriers to free entry make it difficult for new firms to enter (Leano, 2012).

This market structure is characterized by interdependence among

firms, and the action of one firm affects the other firms. These strategically
interacting firms try to increase prices to the detriment of the consumers.
Take, for example, the oil industry. The Organization of Petroleum Exporting
Countries (OPEC) can manage to raise prices by having an agreement with
each other on what prices to charge the consumers. Thus, countries that use
a lot of oil have no choice but to buy from these producers at high prices.

Characteristics of Market Models

Perfect Competition

 There is a large number of independent sellers.

 Products are all the same. Because they are the same, they are
homogeneous. Examples are farm goods like rice, corn, or fruits.
 No seller and buyer can cause a change in the price of a good.
 There are too many sellers with the same good. If one seller decreases
his or her supply a lot, this will still not change the total supply of
everyone else in the market. The market price of the goods will stay the
same.
 At the same time, if one seller sells his or her goods at a lower price
than anyone else, many people will buy from him or her right away. If
he or she sells at a higher price than anyone else, he or she will not sell
his goods. The rise or fall of the market price depends on total demand
or total supply, not on a single buyer or seller.

7
  It is easy for new firms to enter the market. It is also easy for firms that
are already there to leave the market. For example, a vegetable vendor
is free to sell in the market. He or she only pays the market fee. If she
no longer wants to sell, she can simply leave the market.
 Market price and quantity of output are determined exclusively by
forces of demand and supply.

Monopoly
 There is only one firm/producer or seller.

 Not all the products are exactly the same. This is because there are no
close substitutes for them. Some firms in real life which are pure
monopolies are the following: MERALCO and MWSS. Their existence is
based on the franchise granted by the government- sometimes called
franchise monopoly.

 The monopolist chooses the price. Since he or she is the only one selling
the goods, he or she can lessen the output to make the price higher. He
or she can also increase supply if this will increase his profit.

 It is very hard for new firms to enter the market. This is because there
are already other firms who know how to work in the market better.
 If there is a monopolist, this firm is very powerful in the market. There
are also natural monopolies because there are some things like
electricity or water that cannot be sold by more than one company.

 There may or may not be a lot of promotion of the goods sold by the
monopolist. By promotion, we mean billboards or commercials.

 Since no one else sells the goods sold by the monopolist, there is no
need to tell people to buy from a particular company. In a market with
a monopoly, the people can only buy from the monopolist.

Monopolistic Competition
 There are many sellers acting independently. Some scholars suggest
that at least 100 sellers operate in the market.

 Products are not all the same. The products look different from each
other. They are also sold in different places. There are different
commercials and billboards for them. Examples are banks, books,
medicine, restaurants, clothing, apparel, and cars.

8
  There is limited control of price. Some sellers can decrease or increase
their prices a little. This is because their products are different.

 New firms do not have a tough time entering the market. Still, they have
a more challenging time than firms in markets with pure competition.
Why? This is because they need more capital. There is also more
competition because their products have to be better. They also need to
promote it better, so people will choose their goods instead of others.

 There is a non-price competition. Non-price here means firms have to

try to have better services and better places to sell. Their goods also
need to look better so that people will choose to buy from them instead
of from other firms.

Oligopoly
 Only some firms are powerful in the market. Each firm produces a big
part of the total output of the industry.

 Products are either the same or different. Raw materials like cement or
steel are all the same. Finished goods like typewriters or cars differ from
one another.

 The producers agree on a price depending on what each of them wants.

The biggest among the sellers is called the price leader. Meaning, they
act interdependently with each other.

 It is hard for new firms to enter the market. They need a lot of capital,
and they need to produce a large number of goods. It is hard to beat the
firms that have been in the market longer because these firms know
better. But new firms can still enter the market.

 There is a lot of product promotion among those who make various

goods. In the case of producers who all sell the same goods, they have
to promote themselves well.

9
Determinants of Market Structure

Figure 2. Determinants of Market Structure.

(Determinants of market structure – Google Search, 2021)

Other Determinants of Market Structure

1. Government laws and policies. In some industries, the government
controls how competitive firms can be.
This is for the good of the buyers and the economy. For example, in some
industries that sell water or electricity, only one firm is allowed to sell each
service or good.
For transportation (i.e. public buses) or communication (i.e. telephone
lines), the government will only allow one or two firms in particular place in
the country. Likewise, the government also makes sure that the monopolies
do not abuse its power.
2. Technology. Technological innovations also create monopoly for a long
time and a lot of firms have accumulated wealth because of this. The reason
is that they did not have to try and beat other firms to earn more profit.
But some new firms get hold of modern machines that help them produce
more goods and better goods than the monopolies. Because of this,
monopolies become oligopolies, or monopolistic competition happens.

10
 For example, abaca was once the best choice to use when making paper,
ropes, and fishing nets. But now, plastic is also used to make ropes, for
example. The abaca industry is no longer a monopoly.

3. Business policies and practices. New firms might be scared of big firms.
Also, new firms do not have as much input to use, unlike the big firms.
Sometimes the big firms will even work together. This makes it harder for new
firms to earn profit. The new firms can even buy the new firms instead of
letting them work in the market.

4. Economic freedom. Being free in this sense can mean having things of
your own. It means being able to sell what you want as long as no one gets
hurt.
Source: Mansueto, 2021. Determinants of
market structure.

Having economic freedom may also mean firms can compete with one
another. In some cases, the firms try very hard to beat one another. Only a
few firms stay in the market.
In this case, a single seller or only a few can help in saying what the price
of goods should be. They can also tell how much should be made.
Table 1. Feature of Market Structure.
Market Forms
Features Perfect Monopoly Monopolistic Oligopoly
Competition Competition
1. No. of Large One Varied but A few
firms not too many
2. Nature of Homogenous One type Product Homogenous
the differentiation or
product differentiated
3. Entry of Free No entry Free Restricted
Firms
4. Degree of Zero Full Limited Limited due
Monopoly to product
differentiation
5. Price Price taker Price Price maker Price maker
policy of maker
the firm
6. Market Complete Incomplete incomplete Incomplete
knowledge
7. Elasticity Perfectly Less elastic Less elastic Less elastic
of elastic
demand

11
 Figure 3. Spectrum of competition.
(image market structure spectrum- Google Search, 2021)

SIGNIFICANCE OF THE MARKET STRUCTURE

The market power or control of the business the owner will enjoy is
determined by the type of market structure in which business it operates.
Greater market power means a greater ability to control prices. Differentiation
of products one offers for sale lead to opportunities for more profits (Dinio
et.al, 2017).

Looking forward that you can now articulate and apply the knowledge
learned from the discussion particularly on how to improve competitiveness
after learning the different market structures. The knowledge you earned in this
topic is essentially helpful in your entrepreneurial engagement and other
business undertaking. This will put you an edge over your competitors.

Get ready to engage in the activities that will enrich and augment your
knowledge about market structure!

Let Us Practice

Activity 3. Cut and Paste!

Directions. Cut out pictures from old magazine and paste it on the space
provided or, in alternative, draw a picture that best describe each market
structure and make a concise explanation as to the number of firms, type of
products or services, entry/exit to the market, and pricing power.

12
 RUBRIC

Criteria Ratings
Appropriateness of the pictures or 5 4 3 2 1
drawings for the topic
Conciseness of explanation and its 5 4 3 2 1
relevance to the topic

PERFECT COMPETITION
(paste/draw here)

MONOPOLISTIC
COMPETITION
(paste/draw here)

MONOPOLY
(paste/draw here)

OLIGOPOLY
(paste/draw here)

Activity 4. Identify Me!

Directions. Given the type of business or industry below, identify the type of
market structure where it belongs to.

1. Airline Industry in the Philippines = ______________

2. Fruit market = _________________

3. Electric service provider in Davao del Norte = ______________

13
 4. Soda or cola drinks = ___________________

5. Fish market = __________________

6. Publics Schools = ________________

7. Water supply in Tagum City = _________________

8. Malls in the Philippines = _________________

Let Us Practice More

Activity 5. Compare and Contrast!

Directions. Using the venn diagram below, list down the difference between
the given type of market structure.

Perfect Monopolistic Oligopoly Monopoly

Competition Competition

Let Us Remember

Activity 6. Complete Me!

Direction. Complete the statement by filling in the blank of the appropriate

type of market structure.

1. ______________ enjoys the biggest power and least competitive in the

market.
2. Homogenous product is sold by the seller in a ____________________.
3. ______________ is characterized by product differentiation where entry
and exit are easy.

14
 4. The most ideal and the most competitive market is _________________.
5. One of the innate characteristics of an ____________________ is strategic
interaction or interdependence among firms.
6. Firms in _______________ engaged in a non-price competition.
7. Sellers in ______________ tend to shift demand curve for its output to
the right without sacrificing its prices.
8. _______________ can be described as highly concentrated market with
just few interdependent firms.
9. _______________ combines the characteristics of perfect competition and
monopoly.
10. A _______________ is free to determine its output and price, thus
it is a price setter.

Let Us Assess

Activity 7. Measure Your Wits!

Direction. Choose the letter of the correct answer from the given choices.

1. If one perfectly competitive firm increases its level of output, market

supply ____________________.
a. will increase and market price will fall.
b. will increase and market price will rise.
c. and market price will both remain constant.
d. will decrease and market price will rise.

2. If a firm sells its output on a market that is characterized by many

sellers and buyers, homogeneous product, perfect knowledge,
unlimited long-run resources mobility, then the firm is:
a. a monopolist
b. an oligopolist
c. perfect competition
d. a monopolistic competitor
{{{

3. Which of the following is NOT a feature of monopolistic competition?

a. numerous sellers
b. product differentiation
c. numerous buyers
d. homogeneous products
4. In which form of market structure would price be the key factor when
competing?
a. monopoly
b. oligopoly
c. monopolistic competition

15
 d. perfect competition
5. Which of the following is the least competitive market structure?
a. perfect competition
b. monopolistic competition
c. oligopoly
d. monopoly
6. A firm in monopolistic competition increases its expenditure on marketing
its product. What will it NOT be able to achieve as a result?
a. a higher long-run profit
b. higher selling prices
c. more differentiated product
d. more inelastic demand
7. Which of the following market is NOT a price maker?
a. monopolistic competition
b. perfect competition
c. monopoly
d. oligopoly
8. A firm that the government gives exclusive rights to provide a particular
service in a particular area is best termed as:
a. market demand curve of downward sloping
b. franchise monopoly
c. natural monopoly
d. pure monopoly

9. When oligopolies collude to maximize industry profits, they act like a

________.
a. duopoly
b. imperfect market
c. company in monopolistic competition
d. monopoly
10. What is the key feature that is common to all oligopolies?
a. 3 to 4 firms dominate the industry
b. interdependence
c. there are always a small number of firms in the industry
d. there is price discrimination
11. What is the difference between monopolistic competition and perfect
competition?
a. there is a strong degree of market power
b. the firm is the industry
c. product differentiation
d. homogenous product
12. As a market structure, the monopolistic competition offers goods and
services _________.
a. that do not have substitute from another industry
b. that do not have substitute outside of the industry

16
 c. from a single firm
d. that only differ in price
13. Due to product differentiation, it is important to consider the issue of
__________.
a. brand awareness
b. brand development
c. brand loyalty
d. manipulative marketing

Let Us Enhance

Activity 8. I Can Do This!

Directions. Read the given task below. Write your answer on a separate sheet
of paper. You will be graded based on the following rubric: Content that shows
the elements and characteristics of the given type of market structure 60%;
logical sequence and reasoning 20%; and coherence and sentence structure 20
%.
Give one example of an industry/company in the Philippines and identify
what market structure the company belongs to. Explain.
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________

Let Us Reflect

Activity 9. Let's Apply This!

Directions. Apply the principles you have learned in the previous module and
the topic discussed herein by answering the given scenario. Your rating will
be based on the same rubric above provided.

One of the most popular sweet snacks in the locality is the banana cue.
Assume you have entered into this type of entrepreneurial activity in your
locality with existing banana cue vendors. What strategies or moves will you
do to compete with other vendors selling the same and similar product? What
will you do to shift the demand (increase demand) in favor of your product to
maximize profitability?
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________

17
 18
Activity 7 Activity 6
1. A 14. Monopoly
2. C 15. Perfect competition
3. D 16. Monopolistic competition
4. D 17. Perfect competition
5. D 18. Oligopoly
6. A 19. Monopolistic competition
7. B 20. Monopolistic competition
8. B 21. Oligopoly
9. D 22. Monopolistic competition
10. B 23. Monopoly
11. C
12. B
13. C
Activity 4 Activity 5 Activity 2
1. Oligopoly (Answer may vary) 1. a
2. Perfect Competition 2. b
3. Monopoly 3. a
4. Oligopoly Activity 3 4. d
5. Perfect Competition 5. b
6. Monopolistic Competition 1. OLIGOPOLY 6. c
7. Monopoly 2. MONOPOLY 7. a
8. Oligopoly 3. COMPETITION 8. d
4. MONOPOLISTIC 9. b
10. b
Answer key
 References

Dinio, Rosemary P. and George A. Villasis. 2017. Applied Economics. Manila. Rex
Book Store Inc.
Leano, Roman Jr. D. 2012. Fundamentals of Economics with Agrarian Reform,
Taxation and Cooperatives. Manila. Mindshaper, Co. Inc.
Pagaso, Cristobal M. et al. 2006. Introductory Microeconomics. Manila. Rex Book
Store Inc.
Villegas, Bernardo M. 2010. Basic Economics. Manila. Center for Research and
Communication Foundation Inc.

Google.com. 2021. daneco images - Google Search. [online] Available at:

<https://www.google.com/search?q=daneco+images&tbm=isch&ved=2
ahUKEwjTjffqoYHvAhVHGKYKHTUWDaMQ2-
cCegQIABAA&oq=daneco+images&gs_lcp=CgNpbWcQAzoECCMQJzoE
CAAQQzoHCCMQ6gIQJzoFCAAQsQM6CAgAELEDEIMBOgIIADoHCAA
QsQMQQzoECAAQGFCD6wNYpKAEYPPGBGgBcAB4AIABpQOIAZYmk
gEKMC44LjEzLjAuMZgBAKABAaoBC2d3cy13aXotaW1nsAEKwAEB&s
client=img&ei=r501YJP6OMewmAW1rLSYCg&bih=657&biw=1366#img
rc=mB9BL4M3Q6MYpM> [Accessed 24 February 2021].

Google.com. 2021. PAGCOR images - Google Search. [online] Available at:

<https://www.google.com/search?q=PAGCOR+images&tbm=isch&ved
=2ahUKEwi5kdaQooHvAhVyGKYKHWdgBfMQ2-
cCegQIABAA&oq=PAGCOR+images&gs_lcp=CgNpbWcQAzoECCMQJzo
HCCMQ6gIQJzoICAAQsQMQgwE6AggAOgQIABBDOgUIABCxAzoECAA
QHjoECAAQGFDX_AZY7fcHYNqhCGgOcAB4BIABygOIAZAskgEJMC4z
LjkuNC4zmAEAoAEBqgELZ3dzLXdpei1pbWewAQrAAQE&sclient=img
&ei=_501YPmVBfKwmAXnwJWYDw&bih=657&biw=1366#imgrc=OcKE
49kZlSjwEM> [Accessed 24 February 2021].

Google.com. 2021. sari-sari store images - Google Search. [online] Available at:
<https://www.google.com/search?q=sari-
sari+store+images&tbm=isch&ved=2ahUKEwi5kdaQooHvAhVyGKYKH
WdgBfMQ2-cCegQIABAA&oq=sari-
sari+store+images&gs_lcp=CgNpbWcQAzIECCMQJzIECCMQJzIHCAAQ
sQMQQzIFCAAQsQMyBQgAELEDMgUIABCxAzIFCAAQsQMyAggAMgII
ADICCABQ5k1YnpkBYIPVAWgAcAB4AYABzxGIAYSEAZIBBzctMy40Lj
OYAQCgAQGqAQtnd3Mtd2l6LWltZ8ABAQ&sclient=img&ei=_501YPmV
BfKwmAXnwJWYDw&bih=657&biw=1366#imgrc=aO2FwS4qLLzuuM>
[Accessed 24 February 2021].

19
Google.com. 2021. mall images - Google Search. [online] Available at:
<https://www.google.com/search?q=mall+images&tbm=isch&ved=2ah
UKEwiU0tm5pIHvAhVJUpQKHcZgBckQ2-
cCegQIABAA&oq=mall+images&gs_lcp=CgNpbWcQARgAMgQIABBDMg
IIADICCAAyAggAMgIIADICCAAyAggAMgIIADIGCAAQBRAeMgYIABAFE
B46BwgjEOoCECc6BAgjECc6CAgAELEDEIMBOgUIABCxAzoHCAAQsQ
MQQ1D0uxBYg6YTYIK9E2gBcAB4BIABmtgBiAHbhAeSAQ8wLjMuNC4
1LTEuMy45LTSYAQCgAQGqAQtnd3Mtd2l6LWltZ7ABCsABAQ&sclient
=img&ei=baA1YNTnPMmk0QTGwZXIDA&bih=600&biw=1366#imgrc=F
fD9zMyIVYJwNM> [Accessed 24 February 2021].

Courses.lumenlearning.com. 2021. Introduction to Monopoly | Boundless

Economics. [online] Available at:
<https://courses.lumenlearning.com/boundless-
economics/chapter/introduction-to-monopoly/> [Accessed 23
February 2021].

Investopedia. 2021. Monopolistic Competition Definition. [online] Available at:

<https://www.investopedia.com/terms/m/monopolisticmarket.asp>
[Accessed 23 February 2021].

Mansueto, 2021. Determinants of market structure. [online] Slideshare.net.

Available at:
<https://www.slideshare.net/ChristianMichaelMansueto/determinants
-of-market-structure> [Accessed 21 February 2021].

Google.com. 2021. images market structure spectrum - Google Search. [online]

Available at:
<https://www.google.com/search?q=images+market+structure+spectru
m&sxsrf=ALeKk00kd1Sf04gVSPqshi1ntK4uOHUKpg:1613883385138&
source=lnms&tbm=isch&sa=X&ved=2ahUKEwi43ISPmPruAhUjy4sBHW
n_B9kQ_AUoAXoECA4QAw&biw=1366&bih=657> [Accessed 21
February 2021].

Google.com. 2021. Determinants of market structure - Google Search. [online]

Available at:
<https://www.google.com/search?q=Determinants+of+market+structur
e&sxsrf=ALeKk01D3V6orcrA6YQ8V0YhthYhGTFMnQ:1613882568783&
tbm=isch&source=iu&ictx=1&fir=NPrLwc_V5C_VwM%252CAETrwAfFH
w3yTM%252C_&vet=1&usg=AI4_kSyLKisd_2W1Xkaxiu0af96INQCFA&s
a=X&ved=2ahUKEwiGtuKJlfruAhUaA4gKHfRmBZkQ9QF6BAgREAE#im
grc=NPrLwc_V5C_VwM> [Accessed 21 February 2021].

20
21
For inquiries or feedback, please write or call:

Department of Education – Tagum City Division

Address: Energy Park, Apokon, Tagum City, 8100

Telefax :(084) 216-3504

Email Address: tagum.city@deped.gov.ph

Department of Education – Region XI

F. Torres St., Davao City

Telefax:

Email Address: lrms.regionxi@deped.gov.ph

22