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    Market: BY Dipanjana Bhattacharyya

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    dipanjana bhattacharyya
    Markets are institutional arrangements that allow buyers and sellers to exchange goods and services. They help analyze demand and supply to determine optimal prices. There are several market structures, including perfectly competitive markets with many small firms, monopoly with a single seller and no close substitutes, monopolistic competition with many firms and close substitutes, monopsony with a single buyer and many sellers, and oligopoly dominated by a small number of interdependent firms. Markets aim to facilitate exchanges that maximize profits and benefits for all participants.

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    Market: BY Dipanjana Bhattacharyya

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    dipanjana bhattacharyya
    41 views10 pages
    Markets are institutional arrangements that allow buyers and sellers to exchange goods and services. They help analyze demand and supply to determine optimal prices. There are several market structures, including perfectly competitive markets with many small firms, monopoly with a single seller and no close substitutes, monopolistic competition with many firms and close substitutes, monopsony with a single buyer and many sellers, and oligopoly dominated by a small number of interdependent firms. Markets aim to facilitate exchanges that maximize profits and benefits for all participants.

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    Market 1

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    Markets are institutional arrangements that allow buyers and sellers to exchange goods and services. They help analyze demand and supply to determine optimal prices. There are several market structures, including perfectly competitive markets with many small firms, monopoly with a single seller and no close substitutes, monopolistic competition with many firms and close substitutes, monopsony with a single buyer and many sellers, and oligopoly dominated by a small number of interdependent firms. Markets aim to facilitate exchanges that maximize profits and benefits for all participants.

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    41 views10 pages

    Market: BY Dipanjana Bhattacharyya

    Uploaded by

    dipanjana bhattacharyya
    Markets are institutional arrangements that allow buyers and sellers to exchange goods and services. They help analyze demand and supply to determine optimal prices. There are several market structures, including perfectly competitive markets with many small firms, monopoly with a single seller and no close substitutes, monopolistic competition with many firms and close substitutes, monopsony with a single buyer and many sellers, and oligopoly dominated by a small number of interdependent firms. Markets aim to facilitate exchanges that maximize profits and benefits for all participants.

    Copyright:

    Attribution Non-Commercial (BY-NC)
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    of 10

    MARKET

    BY
    DIPANJANA
    BHATTACHARYYA
    • WHAT IS MARKET?
    • MARKET IS AN
    INSTITUTIONAL
    ARRANGEMENT
    UNDER WHICH
    BYERS AND
    SELLERS CAN
    EXCHANGE SOME
    QUANTITY OF
    GOODS AND
    SERVICES AT A
    MUTUALLY
    AGGREEABLE
    Why it is needed?

    • Analysis of how much demand


    and supply of a good is
    • what price of a good should
    be.
    Although many types of market
    SRUCTURES exist:
    PERFECTLY COMPETITIVE
    MARKET
    Ø MANY BUYERS AND MANY SELLERS.
    Ø
    Ø PRODUCT HOMOGENEITY.
    Ø
    Ø FREE ENTRY AND EXIT OF FIRMS.
    Ø
    Ø GOAL OF ALL FIRMS IS PROFIT MAXIMISATION.
    Ø
    Ø NO GOVT. REGULATION.
    Ø
    Ø PERFECT KNOWLEDGE .
    MONOPOLY
    Ø IT IS A FORM OF MARKET IN WHICH
    A SINGLE SELLER SALES A
    COMMODITY FOR WHICH THERE IS
    NO CLOSE SUBSTITUTE.
    Ø
    Ø BARRIERS TO ENTRY.
    •
    exp: BRISLARY
    MONOPOLISTIC COMPETETIVE
    MKT.
    Ø LARGE NO. OF SELLERS AND BUYERS.
    Ø
    Ø CLOSE SUBSTITUTE PRODUCTS.
    Ø
    Ø FREE ENTRY EXIT OF FIRMS.
    Ø
    Ø GOAL IS PROFIT MAXIMISATION.
    •
    •
    exp: COMMONM IN RETAIL
    MONOPSONY
    • IT IS A FORM OF MARKET IN WHICH
    A SINGLE BUYER AND LOTS OF
    SELLERS.
    OLIGOPOLY
    Ø An oligopoly is a market form in which a
    market or industry is dominated by a
    small number of sellers.
    Ø
    Ø The decisions of one firm influence, and
    are influenced by, the decisions of
    other firms.
    •
    exp: civil passenger aircraft
    The end

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