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PRESTIGE INSTITUTE MANAGEMENT & RESEARCH

BY: ABHISHEK KESHRI


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’EFINATION OF MARKET

PERFECT MARKET ITS ’EFINATION & FEATURES

MONOPOLY MARKET ITS ’EFINATION & FEATURES

MONOPOLISTIC MARKET ITS ’EFINATION & FEATURES

OLIGOPOLY MARKET ’EFINATION ITS ’EFINITION & FEATURES

’IFFERENC BETWEEN ALL FOUR MARKET

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Means by which buyers and sellers are brought into contact with
each other and goods and services are exchanged. The term
originally referred to a place where products were bought and
sold.

TYPES OF MARKET
1-PERFECT MARKET
2-MONOPOLY MARKET
3-MONOPOLISTIC MARKET
4-OLIGOPOLY MARKET

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Ê Perfect market is a form of the market where there is a large


number of buyers and sellers of a commodity .Homogenous
product is sold with no control over price by an individual firm.

FEATURES:
ÿLarge number of buyers seller.
ÿHomogenous product.
ÿPerfect knowledge.
ÿFree entry and exit of firms.

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Ê Monopoly is a form of the market in which there is a single


seller or producer of a commodity. There are no close
substitute of the monopoly product and there are legal,
technical or natural barriers to the entry of the new firms in the
monopoly market.

Features:
ÿSingle seller of the commodity.
ÿAbsence of close substitutes of product.
ÿ’ifficult entry of new firm.
ÿPrice maker.

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Ê It refers to a market situation in which there are many firms


which sales closely related but differentiated product .

Features:
ÿLarge number of buyers and sellers .
ÿProduct differentiation.
ÿFree entry and exit of the firm.
ÿNon-price competition.

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Ê It is a form of market in which there is a large no of buyers, but


only a few big sellers of a commodity. For e.g. tata

Features
ÿA few firms
ÿEntry and exit of the firm
ÿHigh degree of interdependence
ÿproduct

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[ M  September 13 2010