MARKET AND ITS TYPES

1. Market Definition
 A market is a place where buyers and sellers can meet to
facilitate the exchange or transaction of goods and services.
Markets can be physical like a retail outlet, or virtual like an
e-retailer. Other example include the illegal markets, auction
markets, and financial markets.

2. Types of market
 Monopoly
 Oligopoly
 Monopolistic competition
 Perfect competition

3. Monopoly market
 A market structure characterized by a single seller, selling a
unique product in the market. In a monopoly market, the
seller faces no competition, as he is the sole seller of goods
with no close substitute.

4. Oligopoly market
 Oligopoly markets are markets dominated by a small
number of suppliers. They can be found in all countries and
across a broad range of sectors. Some oligopoly markets are
competitive , while others are significantly less so, or con at
least appear that way.

5. Monopolistic competition
 Monopolistic competition is a type of imperfect competition
such that there are many producers competing against each
other, but selling products that are differentiated from one
another and hence are not perfect substitutes.

6. PERFECT COMPETITION MARKET
 There are many buyers and sellers in the market.
 Each company makes a similar product.
 Buyers and sellers have access to perfect information about price.
 There are no transaction costs.
 There are no barriers to entry into or exit from the market.

7. PERFECT COMPETITION MARKET
 There are many buyers and sellers in the market.
 Each company makes a similar product.
 Buyers and sellers have access to perfect information about price.
 There are no transaction costs.
 There are no barriers to entry into or exit from the market.

8. THANKYOU
NAME –ANKITA SHARMA
UNIT -2
CHANDIGARH