forms of market

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Forms of Market and Price of determination under perfect competition.:

Forms of Market and Price of determination under perfect competition. By Devesh Prajapati-deveshprajapatinvs@gmail.com

MEANING OF MARKET :

MEANING OF MARKET Market refers to the whole region where buyers and seller of a commodity are in contact with each other to effect purchase and sale of the commodity. By Devesh Prajapati-deveshprajapatinvs@gmail.com

Meaning and basic for classifying market structure.:

Meaning and basic for classifying market structure. Market structure refers to number and types of firms operating in the industry. The main factors:- Number of buyers and sellers Nature of commodity Freedom of movement of firms Knowledge of market condition Mobility of goods and factors of production By Devesh Prajapati-deveshprajapatinvs@gmail.com

Forms of market structure :

Forms of market structure Perfect competition Imperfect competition Monopoly Monopolistic competition Oligopoly By Devesh Prajapati-deveshprajapatinvs@gmail.com

Perfect competition market:

Perfect competition market It refers to a market situation where there are a very large no of buyers and sellers dealing in a homogeneous product at a price fixed by the market. By Devesh Prajapati-deveshprajapatinvs@gmail.com

Features of perfect competition:

Features of perfect competition Very large number of buyers and sellers Homogeneous product Freedom of entry and exit. Perfect knowledge among buyers and sellers. Perfect mobility of factors of production Absence of transportation costs Absence of selling costs. By Devesh Prajapati-deveshprajapatinvs@gmail.com

Meaning Of Monopoly Market:

Meaning Of Monopoly Market Monopoly is derived from two Greek words: ‘ Monos’ Means Single and ‘ Polus ’ means a seller. Meaning – Monopoly refers to a market situation where there is a single seller selling a product which has no close substitutes. Features of monopoly 1 . Single seller 2. No close substitutes. 3. Restrictions on entry and exist 4. Price discrimination 5. Price maker By Devesh Prajapati-deveshprajapatinvs@gmail.com

Reasons for emergence of monopoly :

Reasons for emergence of monopoly Government licensing Patent rights Cartel Control on raw materials By Devesh Prajapati-deveshprajapatinvs@gmail.com

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