MARKET

 All such systems or arrangements that bring the

buyer and seller in contact with each other to settle
the sattle the sale and purchase of goods. It does not
refer to any shopping complex.
 From/ Structure Of Market

Perfect Imperfect
Competition Competition Market

Monosony

Monopoly
Perfect Competition
(Not exist in real world)
Oligopoly

Imperfect Market Monopolistic

(Exist in real world) Competition
Type Of Markets
 PerfectCompetition
 Monosony
 Monopoly
 Oligopoly
 Monopolistic Competition
Perfect Competition
 Productis homogeneous and its price is
determind by the force of market supply
and market demand.

 Ex/- Agricultural Product

Features Of Perfect Competition
 Large Number Of Firms And Sellers.
 Large Number Of Buyer.
 Homogeneous Product.
 Perfect knowledge.
Monopoly
 Marketin which there is single seller of a product
with no close substitute in market.

 Ex/- Railways Controlled and owned by gov

 Mono= Single, Poly= Seller

Features Of Monopoly
 One seller.
 Large number of buyers.
 No close substitute.
 Full control over price.
Oligopoly
 Form of market in which there are a few
big firms and a large number of buyer of a
commodity.
 Ex/- Telecommunication,
Jio, Airtel, Vodafone
Features Of Oligopoly
 Few sellers.
 Large number of buyers.
 Homogeneous or Differentiate.
 Some Knowledge.
 Price Maker.
Monosony
 Itis a market structure where there is a
single buyer of the product who is not in
competition of other buyers for the
product which it purchases and in which
entry into the market by other buyer is
impossible.

 Ex/- Defence Equipment.

Features Of Monosony
 Many sellers.
 One buyers.
 Homogeneous.
 Some knowledge.
 Price maker.
Monopolistic Competition
 Form of market in which there are many
buyers and sellers of the product, but the
product of each seller is different from
that of other.
 Ex/- Firms producing different brands of
soap, shampoo, detergent.
i.e, Lux, Dove, liril etc.
Features of Monopolistic Market
 Fairlylarge number of seller.
 Large number of buyer.
 Differentiate product.
 Some knowledge.
 Price Maker.
Thank You