market morphology is for managerial economics

1. Market Morphology
Mohd Shoeb Ansari
Submitted To
DR. V.R.UTTARWAR SIR

2. Market Morphology
Meaning of Market:-
Ordinary a market is understood as a place were commodities
are bought and sold at Retail or Wholesale .thus a market place
though to be place consisting of a number of Big or Small
shops stalls even a salesman selling various type of goods

3. Definition
An agreement were by buyers and sellers
come in to close contact with each other
directly or indirectly. Sell or buy goods it
described as market

4. Typical & Speciallisation
sense:-
• It does not refer only fixed Location
• Thus to Create a market for commodity
• It refer to the conditional and Commercial Relationship Facilitating
• Market may be physically identifiable
• Existence of different price for a specific commodity means
existence of different market

5. Product and Factor Market
Analytically may be categorized into two parts
1. Product Market
2. Factor Market
A product market or a commodities market refer to a an agreement in effecting
buying and selling of commodities in fact each commodity has its marker
for example :- the Cotton Market, The Rice Market, The Gold Market and
The Fish Market etc.

6. 2 Factor Market
Similarly these are factor market in which factors of
production such as Land, Labour and capital are transected
these are thus market called as
Labour Marker, Land Market and Capital Market

7. Calssification Of Market Structures
• The Market is set of conditions in which buyer and seller come in contact
for the purpose of exchange
• Classification of Market

8. Area Wise
Time Element Competitions
Local Market
Very Short Period Market Perfect Competitions
Regional Market
Short Period Market Oligopoly
National Market
World Market
Long Period Market
Very Long Period Market
Monopoly
Monopolistic Competition

9. Local Market
Market related to local area is called local market, were commodities are bought
and sold at one place or in one location only, they have local market
It is confined to particular Village, Town and City only. related trading has local
market only. Perishable goods like
Milk, Vegetable and fruit etc. are mostly sold in local market

10. Regional Market
These are regional market when goods are sold with in a particular region only.
For example most of the film produced in regional language in India have their
regional market only. Similarly textbooks sectional by the Maharashtra state ssc
board have a regional market.

11. National Market
• When goods are demand and sold by national wide scale, there is a notional
market. The goods produced by scale industries tend to have notional
market. A large number of items such as TV set, cars, scooters, fans, ghee,
cosmetic products etc. produced by big companies have national market. A
good network of transport and communication and banking facilitates help
in promoting national market.

12. World Market
When goods are traded international these exist world markets in international
markets goods are exchange between buyers and sellers from difrant contries in
the world market transection we use the terms “Exports” and “Imports” of
goods

13. Market Structures
The degree of competition may very among the sellers as well as buyers in
different market situations Usually, the nature of competition among the
sellers is viewed on the basic of two major aspects;
 The number of firms in the market. and
The characteristics of product.
On the selling side or supply side of the market, the following types of market
structures are commonly famed 1.perfect competition 2. monopoly 3. oligopoly
4. and monopolistic competition.

14. Perfect Competition
It refer to the market structure characteristiced by many firm to compete in producing
idendial goods and the market entry is free no market barriers.
Large no of sellers
Large no of buyers
Product homogeneity
Free entry and exit of firm
Perfect knowledge of market conditions

15. Monopoly
Monopoly is the other extreme from of the market situation. Pure monopoly is
just opposite of perfect or pure competition. Pure monopoly is a market
structure there is only one seller. He control the entire market supply of
product. The sellers {the monopolist} is faced with large no of competing
buyers. But, being sole supplier the monopolistic has the stronge hold over
price determination. He usually tries to set the price & output of product,
entirely in his own interests of profit maximization.

16. Feature of Monopoly
The following are the main characteristics of a pure monopoly market:
o There exists only one seller but there are many buyers.
o The monopoly firm is the industry.
o There are many entry barriers such as nature, economic, technological or legal. Which do
not allow competitors to entire the market.
o A monopoly is a “price maker.”
o There are no closely complete competitive substitutes for the product of monopolist.
o Monopoly is a complete negation of competition

17. Oligopoly
Oligopoly refers to the market structure comprised by a few producers or suppliers. There
are few sellers (More than two but not too many)in given line of the productions. The
oligopoly model fits well in such industries as automobile, manufacturing of electrical
appliance, etc. in our country following are the distinguishing feature of an oligopolistic
market:
There are few sellers supplying either homogenous products or differentiated products.
Firms under oligopoly have always the fear of retaliation by rivals.
Advertising and selling casts have strategic importance to oligopolistic firms.

18. Monopolistic Competition
It refer to the market structure characterized by product differentiation of many
monopolistically competitive firms in a particular line of production.
There are large no of buyers too but each buyer has preference for a particular seller or a
brand of the product in the market. For instance, a smoker may prefer Panama brand
Cigarettes o wills
Following are the major characteristic of monopolistic competition:
 There are large no of sellers.
 There are large no of buyers.
 There is product differentiation.
 Each seller resorts to advertising and Seles promotion.