Introduction

The market conditions are influenced by the social, economic, technological, factor prices and tastes. These factors influence the method of analysis of markets among them the Structure, Conduct ad Performance (S-C-P) model, a standard tool for the analysis of markets. It is a framework for explaining how markets behave and the differences between them. This paradigm postulates that the market structure determines the market conduct, which then sets the performance of the market. It envisages that the number of sellers and buyers determines the behaviour of economic agents and thereby determine how close the industry comes to meeting the standard of reference of social welfare.

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