This document discusses different types of markets: perfect competitive market, monopoly market, monopolistic market, and oligopoly market. It provides details about each market type, including their key characteristics and how price is determined. The perfect competitive market has many buyers and sellers and goods are identical. A monopoly market has a single seller. A monopolistic market has some competition but products are similar rather than identical. An oligopoly market has a small number of sellers producing similar products, requiring cooperation between sellers to determine prices.

1. ENGINEERING ECONOMICS
AND MANAGEMENT-: CREATED BY :-
KAVIN RAVAL
141080106026
CIVIL

2. CONCEPTS OF
MARKET
MARKET

3. MARKET
• Meaning of market
• Types of markets
1.Perfect competitive market
2.Monopoly market
3.Monopolistic market
4.Oligopoly market

4. PERFECT COMPETITIVE MARKET
• The market in which a large number of suppliers compete with each
other to satisfy the wants and needs of a large umber of consumers at
competitive price.
• Conditions for Perfect Competitive Market:
1) Many buyers and sellers
2) Low entry barriers for sellers
3) Cost of producing goods almost same
4) Goods offered by various sellers are same

5. PERFECT COMPETITIVE MARKET
PRICE DETERMINATION
Price
Quantity
Market supply
Price is fixed
Market demand
Law of demand and
supply

6. PERFECT COMPETITIVE MARKET
• Effect of market price profit and loss…
Cost per unit
Quantity
Marginal cost
Average total cost
Marginal revenue

7. MONOPOLY MARKET
• The market in which the firm is the sole seller of a product without
close substitute
• Characteristics of Monopoly market.
1) Only one seller and other are buyers.
2) Monopoly resources are impossible or difficult to get. Thus the entry
barrier is high for competitors
3) Buyers have no control over the price of the product.

8. MONOPOLY MARKET
Price
Demand
Marginal
revenue
Marginal cost
Average total
cost
Quantity
• Price determination

9. MONOPOLISTIC MARKET
• A market structure in which many firms sell products that are similar
but not identical.
• Characteristics of Monopolistic Market:
1) Product are similar not identical
2) Number of sellers are more compared to monopoly market
3) No barrier for entry exit in market

10. MONOPOLISTIC MARKET
PRICE
Output
Marginal cost
Average total
cost
Demand
Marginal revenue
Average total
cost

11. OLIGOPOLY MARKET
• Number of suppliers are more compared to monopoly market for same
product , new type of market is developed which is neither competitive
nor monopoly.
• Here, there will be competition among suppliers for same product but
there will not be stiff competition such as in case of perfect competitive
market due to less number of suppliers.
• This type of market is called oligopoly market.

12. OLIGOPOLY MARKET
• Price determination
 Combination of perfect competitive market and monopoly market.
 By the group of suppliers . Known as Cartel.
 Not for long term.
 Perfect conclusion of sellers is required.

13. ANY QUESTIONS ?