2. WHAT IA MARKET
Market is one of the many verities of
systems, institutions, procedures social
relations, and infrastractures where by
parties engage to exchange.
3. MARKET STRACTURE
Generally there are four type of market
structure available
Perfect competition
Monopoly
Monopolistic competition
Oligopoly
4. PERFECT COMPITITION
Many numbers of firms are available
All firms are manufacture homogeneous
product
Price elasticity of demand is infinite of a
individual firm
No firm has control over price
No barrios to entry for others and quit
exitors
Many seller and many buyer as well
5. MONOPOLY
Total market covered by a single firm
It produce unique product without any
close substitute
Price elasticity of demand is very small
or falls to zero
Degree of control over price is very
large
Entry for others is total restricted
Single seller but many buyer
6. MONOPOLISTIC
COMPETITION
Large number of firm
Products are differentiated in nature but
with close substitute
Price elasticity of demand is very large
Degree of control over price is some
extend
Entry is easy for others, but product
must be a close substitute
Many seller and many buyer as well
7. OLIGOPOLY
Oligopoly market structure is divided into
such type
Pure oligopoly
Differentiated oligopoly
Open @ close oligopoly
Collusive and competitive oligopoly
Partial or full oligopoly
Syndicate and organised oligopoly
8. PURE OLIGOPOLY
Few firms in market but alls are the big
firms
Products are homogeneous in nature
Price elasticity of an individual firm is
small
Degree of control over price is large
extend
Barrior to entry is limited
There is few sellers but many buyers
9. DIFFERENCIATED
OLIGOPOLY
Few firms are in market
Products are differentiated
Price elasticity of demand for an
individual firm is very small
Degree of control over price is very large
Berrior to entry is very limited
10. OPEN AND CLOSE
OLIGOPOLY
IN open oligopoly new firms can entry in
the market and compete with the
existing firms. But in close oligopoly
entry or new firms is totally restected
11. COLLUSIVE AND
COMPITITIVE OLIGOPOLY
When firms of the oligopoly market
comes to a common understanding and
act as a collusive with a fixed price and
output is known as collusive oligopoly.
But if their is lake of understanding
between all the firms and they compete
with each other is known is competitive
oligopoly
12. PARTIAL OR FULL
OLIGOPOLY
Partial oligopoly is when the total
industry is dominated by only one firm
which is considered as a leader of the
industry. The dominating firm is the price
leader and the whole industry will
conspicuous by the absence of price
leadership
13. SYNDICATED AND
ORGANIZED OLIGOPOLY
If the firms are sale their product in a
centralized syndicate is known as
syndicate oligopoly, and if all the firms
organised themselves into a central
association for fixing prices, output is
known as organized oligopoly
14. DUOPOLY
Only two firms are in market
Both are produce unique products
Price elasticity of demand under control
of government
Degree of control over price is some
extend
Entry is very much difficult for others
15. MONOPSONY
Here only one buyer and many sellers
Products are same
Price elasticity of demand is according
to buyer
Degree of control over price is to reduce
Free entry and free exit facility is
available
