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In this report, I am going to investigate business and economics in selected businesses. In this first task my learning outcome is as follows - "Explore markets as competitive business environments" Economists define markets as a place where buyers and sellers come together to exchange goods and services for cash. There are several different types of market within the UK that are distinguished by the degree of competitiveness. Economists have identified 4 key types of markets - 1. monopoly 2. oligopoly 3. monopolistic competition 4. Perfect competition. These types of markets can be put on a scale to show the number of similar providers also working in that market. It would look as follows - Monopoly Oligopoly Monopolistic Perfect Competition Competition 1 100's Businesses range in size and stature and all offer different things depending on its target audience. Some businesses may only be local, for example Wilma windows which sells glazing products and services throughout Stoke-on-Trent and...

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