Lesson: Imperfect Markets

In this lesson, Nick Palazzolo, CPA, breaks down the nuances of imperfect markets, venturing beyond the theoretical realm of perfect competition into the reality where all markets are inherently flawed. By identifying the ways in which such markets deviate from the ideal, including regulatory barriers, transportation issues, and shortages among others, he offers a pragmatic view on the nature of resource markets. Nick also provides insightful strategies on hedging against the unpredictabilities of these markets, such as the benefit of having diversified suppliers. Get ready to dive deep into the classification and characteristics of these real-world markets, including monopolies, oligopolies, and monopolistic competition, and understand their significance in an economic context.