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CONCEPT OF MARKET

to describe about forms of market

Rupinder5
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CONCEPT OF MARKET

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  1. CONCEPT OF MARKET MEANING:- The concept of market refers to all such systems or arrangements that bring the buyers and sellers in contact with each other to settle the sale and purchase of goods. It does not refers to any shopping complex.

  2. FORMS OF MARKET

  3. PERFECT COMPETITION MARKET • MEANING:-Perfect competition is a form of market where there is a large number of buyers and sellers of a commodity . Homogeneous product is sold and its price is determined by the forces of supply and demand. An individual buyer or seller has no control over price. • FEATURES

  4. Examples of perfect competition market

  5. MONOPOLY MEANING :- It is a form of market in which there is a single seller of a product with no close subsitutes.

  6. Since there is only one producer of a product in the market ,the distinction between ‘firm’ and industry disappears.

  7. MONOPOLISTIC COMPETITION • FEAUTRES MEANING :- It is a form of market where there are many buyers and seller of product ,but the product of each seller is different from that of the others .

  8. OLIGOPOLY • MEANING :- It is a from of market in which there are a few big firms and a large number of buyers of a commodity . Each firm has a significant share of the market.

  9. Thank You RupinderKaur

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