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Perfect competition in markets: A project to map language industry macroeconomics
Thread poster: ExScientiaVera
ExScientiaVera Faroe Islands Local time: 19:24 Danish to English + ...
May 9, 2013
Mapping market characteristics in the global language industry I would like to propose a market to start mapping the language industry, to define regions with tools provided macroeconomics, as a way for us to understand our business. For example, I want to map markets by regions defined by states of perfect competition, monopolistic competition and oligopoly. Most markets on the global market are perfect competitions, with many competitors offering the same service, diferentiating from each other only with communication stratigies and marketing. However, an example of monopolistic competition can be found on the Faroe Islands, with few translators, and only one that has any form of ceritification. I would think there are a few oligoplies as well: Markets were by law only one or two, or a small group is allowed to enter the market. Which regions share these two last charactertistics?
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