Question1:-

In your daily life from

where you get goods?
Question1:-
In your daily life from where you
get goods?
Answer1:- market is the place we
go to get goods.
Question1:-
In your daily life from where you
get goods?
Answer1:- market is the place we
go to get goods.
Question2:-
Name the different types of
market?
Question1:-
In your daily life from where you get goods?
Answer1:- market is the place we go to get
goods.
Question2:-
Name the different types of market?
Answer2:-fruit shop ,vegetable shop etc.
Question1:-
In your daily life from where you get goods?
Answer1:- market is the place we go to get
goods.
Question2:-
Name the different types of market?
Answer2:-fruit shop ,vegetable shop etc.
Question3:-in which forms fruit shop are
categoried ?
Question1:-
In your daily life from where you get goods?
Answer1:- market is the place we go to get
goods.
Question2:-
Name the different types of market?
Answer2:-fruit shop ,vegetable shop etc.
Question3:-in which forms fruit shop are
categoried ?
Answer:-Forms of market
Forms of market
Question :- Where
reasonable price are
available in the 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.
 According to economists, “A market is
the process by which the prices of goods
and services are established”
 Meaning and basic for classifying market
structure.

 Market structure refers to number and types

of firms operating in the industry. The main
factors:-
 1.Number of buyers and sellers 2.Nature of
commodity 3.Freedom of movement of
firms 4.Knowledge of market condition
5.Mobility of goods and factors of
production
Perfect competition
 The market form where there are many
firms that sell a certain homogeneous
product.
 A single firm can not influence the market
price.
 It is a hypothetical situation; it cannot
exist in real case scenario.
Question
:- In which form large
no. of sellers and buyer
engaged in the market ?
 Imperfect competition

1. Monopolistic competition
 A market situation where we find a large number of
buyers and sellers.
 Sell products that are differentiated from one
another e.g branding or quality and hence are not
perfect substitutes.
 A firm takes the prices charged by its rivals as given
and ignores the impact of its own prices on the
prices of other firms.
 QuestionIn which market form
:-
of market perfect substitutes
are not available ?
2. Oligopoly competition
 A state of limited competition, in which a market is
shared by a small number of producers or sellers.
 There are few firms in the market, producing wither
an identical product or differentiated but the close
substitutes goods.
 Oligopoly is derived from the Greek words “oligos”
which means a few and “pollen” which means to
sell.
 what are the types
 Question:-

of imperfect market?
Monopoly competition
A market situation where there exists a
single seller selling such a good which has
no close substitutes.
 They are the PRICE SETTERS.
 A single seller exists for a product. i.e. 100%
of market share.
Question:- Give one
example of monopoly market?
Features of different forms of market
 Features Perfect competition
 Large number of buyers and sellers.
 Freedom of Entry and Exit; this will require
low sunk costs.
 All firms produce an identical or
homogenous product.
 All firms are price takers, Therefore firm’s
demand curve is perfectly elastic.
 There is perfect information and
knowledge.
Question:-In which form of
market there is freedom of
entry and exist?
 Features Monopolistic
competition
 Product differentiation.
 Many firms.
 No entry and exit cost in the long run.
 Independent decision making.
 Some degree of market power
 Buyers and Sellers do not have perfect
information (incomplete information).
Question:-which type of
decision making in
monopolistic market?
 Features Oligopoly
competition
 Profit Maximization conditions.
 Ability to set price.
 Entry and Exit.
 Number of firms.
 Long run profits.
 Product differentiation.
 Perfect Knowledge.
 Non-price competition.
Question:-in oligopoly
forms of market which
type of profit occurs?
A)long run
B)short run
 Features Monopoly
competition
 Single seller.
 Large number of buyers.
 No close substitutes .
 Price discrimination .
 No selling costs .
 Relatively inelastic demand curve.
 No free entry and exit of firms.
Question:-Monopoly
market is suitable for
seller or buyer ?
DHA /ASSIGNMENT:-
Write down the concept
of perfect market ? 5marks