The above statement is correct factually. The product belonging to different market structures will have a difference in pricing strategies, demand, and other economic factors. There are four basic types of market structures perfect competition, monopolistic market, monopoly and oligopoly market.

In the case of the perfect competition market, the products are similar in nature with differentiated features. The products are case substitutes for each other. The firms have to decide upon the prices depending on the prices kept by the competitors. The firms have to use heavy market strategies and advertising of the products in this market structure. The demand for the products in this market is elastic in nature as it is easy for the consumers to shift to substitute commodities. There is the mobility of labor from one industry to another, and the wage rate keeps changing in the market. With a rise in the inflation rate, the first impact is on products belonging to this market structure.

In the case of a monopoly market structure, there is a single seller in the market who has dominance over the supply chain and resources available. The prices are decided by the single seller and are usually kept high as there are no competitors available. The firm is able to earn supernatural profits. The demand for the commodity is less elastic in nature. The wage rate is usually high in this market structure as more and more labor needs to be hired to increase the production level. The inflation rate has less impact on this market the prices are high usually.

In the case of an oligopoly market structure, the prices for the product are decided in collusion among the firms. The demand curve in this type of industry is kinked shaped. There is limited competition in this type of market. The firms in this type of market structure keep the prices constant depending n the prices of the competitors and use advertisements to increase their sales. The mobilization of labor depends on o the wage rate given by the firms.