What are the types of Imperfect Market?

What are the types of Imperfect Market?

Imperfect markets are usually classifier; into the following:

(1) Monopoly (2) Duopoly (3) C igopoly (4) Monopsony

Monopoly: this is a market situation where we have just one seller of a commodity.

Duopoly: this is a market situation where we have just two buyers.

Oligopoly: this is an imperfect market situation that allows for few sellers only.

Monopsony: this market structure exists whenever there is one buyer for a product.

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