Analyzing the Market Structures and the Importance of Monopolies in the Economic Development

Abstract

The article is aimed at analyzing market structures and studying the importance of monopolies in economic development. Applying analysis, systematization and generalization of scientific works of various scientists, the main stages of market evolution and its features are identified. Attention was also paid to the views of researchers on the essence, main features of the concept of «monopoly» and the reasons for their emergence. In the process of writing the article, such methods of scientific research as analysis, synthesis, generalization, and classification were used. Using the system approach, features of market structures are identified and grouped, as well as examples for each market structure are defined. Based on the analysis of modern literary sources and trends in the development of the market mechanism, attention is focused on a relatively new market structure for the domestic economy – the quasi-competitive market. The article considers the causes of emergence of monopolies, their varieties. Based on the analysis of the indices of competitiveness and efficiency of antimonopoly policy, Ukraine’s place in these rankings is determined. The relationship between the level of competitiveness and prevalence of a certain market structure of enterprises is specified, and attention is paid to the activities of the Antimonopoly Committee to improve the efficiency of functioning of the market mechanism. Examples of the most famous monopolies both in Ukraine and over the world are considered. The minimum and maximum losses of Ukraine’s GDP as result of the activities of monopolies are determined. Prospects for further research in this direction are: study of special strategies used by monopolies to increase their profitability and their influence on the market; detailed study of the relationship between monopolies and inequality; analysis of the impact of monopolies on the development of individual sectors of activity, etc. Consequently, the analysis of market structures and the place of monopolies in the economy is a relevant and important direction of research that can help to better understand the role of different types of market structures in the market and their impact on consumers and the economy as a whole.

Keywords

• market
• market structures
• monopoly
• oligopoly