Any particular industry is made up of various market models. These models include monopoly, perfect competition, oligopoly and monopolistic competition. Certain changes have been brought to the market models in a few industries, resulting in a few consequences. Analysis of the changes in market models in a particular industry has been presented in this paper, followed by a discussion on various key topics regarding the same.
The industry being analyzed in this paper is the Food Industry, which is a combination of diversified business organizations, and is engaged in the supply of a majority of food energy consumed by the people around the world. There are different kinds of areas that are a part of the food industry. These include regulation, education, research and development in the food technology, agriculture, manufacturing, and food processing (Stackelberg, 2010). This tells us that there are various circumstances that need to be considered in relation to the food industry in any given country, and their effects, either direct or indirect, on the given industry.
General Patter of Change
The food industry saw certain forms of changes for many years. A few years ago, the whole industry was completely under the control of the fast food chains such as McDonald's, KFC and Burger King. However, with the passage of time, things have changed considerably. However, that is not the case now. Many different companies have come into the market now, and the competition between the establishments is bound to increase to a considerable extent in the time to come. This industry had been oligopolistic for a long time, but now there have been many changes in the recent years, and the industry is moving towards turning into a perfectly competitive form of market structure.
Many of the major established in this...