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BUSINESS MARKETS
By: Shreya Singh
CONTENTS
• Markets
• Features of Market
• Forms of Market
 Perfect Competition
Monopoly
Monopolistic Competition
Oligopoly
• Criteria for Classification of Markets
MARKETS
Area
BUYERS AND SELLERS
Commodity
Competition
FORMS OF MARKET
Forms of Market
Monopolistic Competition
Oligopoly
Perfect Competition Monopoly Imperfect Competition
PERFECT COMPETITION
•Meaning
•Characteristics:
Large Number of seller
Large numbers of buyer
Homogenous products
Perfect mobility
Absence of transport cost
Example:
DEMAND CURVE
AR=MR
REVENUE
OUTPUT
x
y
MONOPOLY
•Definition
•Kinds of Monopoly
Simple and Discrimination monopoly
State and Private
•Features of Monopoly
Single seller large buyers
No close substitute
Restriction on entry of new firms
Price discrimination
EXAMPLE:
DEMAND CURVE
P
P2
P1
D/AR
L M N
PRICE
QUANTITY
X
Y
MONOPOLISTIC COMPETITION
•Definition
•Features of Monopolistic Competition
Large number of seller and buyers
Product differentiation
Free entry and exit of firms
Imperfect knowledge
EXAMPLES
DEMAND CURVE
D/AR
MR
Y
X
REVENUE
OUTPUT
OBLIGOPOLY
EXAMPLE
CRITERIA FOR CLASSIFICATION
• Number of sellers and
buyers
• Nature of Products
• Size and Quantity bought
and sold
• The condition of Entry
HAPPY MARKETING
Thank You
Business markets

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