Explain each of the three characteristics of a market structure and how the mark

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Explain each of the three characteristics of a market structure and how the market/industry you chose relates to each of these characteristics. 
Remember, all Market Structures are defined by these three criteria:
# of Firms
Similarity of Products
Ease of Entry & Exit
Then make a conclusion about which type of market structure your industry fits best.
In addition to the above, explain why this industry is an example of market failure. 
An industry is nothing more than a grouping or classification of similar types of good or service providers. Many companies that offer a similar product or service are usually grouped into an industry (an industry is not one company).  Sometimes an industry is called a market in economics, although a market can be as large as a whole industry or as small as an individual business, but don’t get too stuck on that. 
To identify an industry, you may want to begin your search with a company or business that you’re familiar with.  From there, identify the industry it is a member of and focus your paper on the market structure of the industry. For example, if you began your search with McDonald’s (this is not the industry but a business within an industry/market), then the industry would be Food Service, or more specifically, the Fast-Food industry.  Depending on how broad or narrow the market is, will influence what type of market structure it may be. 
If you need help finding/picking an industry, then check this list provided by the Bureau of Labor Statistics (BLS)Links to an external site.
You don’t have to pick from that list, as it groups many sub-industries together. Picking a narrow market/industry would be best!

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