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MARKETS
STRUCTURES
INTRODUCTION TO MARKETS
The term market is derived fromthe latin word
Marcatus which means merchandise or trade
Market is a place where buyers and sellers
meet together for the exchange of title of
goods
Definition:
Market is a area or atmosphere of petential
exchange
------ Phillip Kotler
Market is not a geographical meeting place
but as any getting together of buyers and
sellers,in person, by mail, telephone, telegraph
and inter net or any other means of
communication
------ Prof. Mitchel
MARKETS CLASSIFICATION
100
120
150
200
180
150
20
10
200
300
110
50
Perfect Market
A laarge number of buyers & sellers
Homogeneous product
Free entry and Exit
Perfect Knowledge
Indifference
Non Existence of Transport costs
Perfect mobility of resources.
Non-perishable products
MONOPOLY
The word monopoly is made up of two
syallables, MONO and POLY. Mono means
single and Poly means Seller
Single person or a firm
No close substitute
Large number of buyers
Price Maker
Supply and Price
Downward slopping
Types of Monopoly
Limited Monopoly
Legal Monopoly
Unlimited Monopoly
Private Monopoly
Single
Price
Government
Monopoly
Monopoly
Discriminating
Voluntary
Monopoly
Monopoly
Natural Monopoly