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I've got an economics assignment where I have to write a quick little essay about a product that involves answering several listed questions. I've got most of them down, but
Mainly, I was wondering if you all would consider the TCG/CCG industry an oligopoly (basically when very few companies control vast amounts of the market share (like cable companies)).
You know what, I might as well post all the questions.
1. What is the product? [Hint: this can be as broad as you want, like computers, TVs, cars or as brand specific as possible, such as Twinkles, iphone. Think about how you will answer the questions below before you pick your product].
2. What are the substitutes and complements for this product?
3. Is the price elasticity of demand greater or below 1? In other words, how sensitive are the consumers to this price change in this product? [Hint: best to be support by news article, news report, financial report, journal articles. If you do have support, please add proper citations and bibliography section]
4. Is this product a normal good, inferior good? Why?
5. Describe the market competition for this product (perfect competition, oligopoly, monopoly, etc) Who are the main producers?
6. What factors would affect the demand for this product?
7. What factors would affect the supply for this product? What inputs does it require?
Thanks in advance for your help. I've got most of them down except the one about the competition but if any of you have any special insights that'd be appreciated. Due in a little under 3 hours so I've got some time.
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Probably an oligopoly, certainly not a perfectly competitive market. May be a monopoly if you're talking about a specific game. If you're talking about the market of card games between players themselves and not between producers and players, then that would be a perfectly competitive market.
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>>50490711
Out of curiosity you considering only physical card games like MTG and Yugioh, or are you including online card games like Hearthstone?
Either way I'd say you're right by saying oligopoly, but I feel like there's more competition with the online cards at the moment.
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>>50490913
I am considering online card games.
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>>50490947
Still probably an oligopoly, but less so than physical card games then.
Online card games are still a growing market after all. Obviously you have Hearthstone that started a bit of a craze, but there's a fair bit of competition at this point between things like Elderscrolls: Legends, Eternal, and Gwent.
Physical card games feels more like a duopoly due to the market being dominated by MTG and Yugioh.
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This was interesting to think about, but a factor effecting demand for Magic, and all other cards games would be, well, demand. If demand is high, then many people are playing it, giving more reason to keep playing or enter the game, while low demand increases reason to drop the game or not enter the game.
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>>50491289
this also affects a lot of other /tg/ related products now that I think about it.
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