This document provides information about different types of market forms: monopoly, monopolistic competition, and oligopoly. It defines each type and provides examples. It also discusses the effects of each market form on consumers, including advantages and disadvantages. Case studies are presented on the Indian railways (monopoly), gym industry (monopolistic competition), and automobile industry in India (oligopoly). The document aims to educate about market forms and analyze real-world examples.
Perfect Competition
Market structure is the interconnected characteristics of a market, such as the number and relative strength of buyers and sellers, degree of freedom in determining the price, level and forms of competition, extent of product differentiation and ease of entry into and exit from the market
Monopoly is a pivotal area to the study of market structures, which directly concerns normative aspects of economic competition, and sets the foundations for fields such as industrial organization and economics of regulation. There are four basic types of market structures under traditional economic analysis: perfect competition, monopolistic competition, oligopoly and monopoly...
Students should be able to:
Understand the assumptions of perfect competition and be able to explain the behaviour of firms in this market structure.
Understand the significance of firms as price-takers in perfectly competitive markets. An understanding of the meaning of shut-down point is required. The impact of entry into and exit from the industry should be considered.
Students should be able to:
Carry out diagrammatic analysis of the market structure in both the short and long run
Understand the importance of advertising and differentiation for the model of monopolistic competition and be able to contrast this with other market structures.
Students should be able to explain and evaluate the efficiency of monopolistic competition
Perfect Competition
Market structure is the interconnected characteristics of a market, such as the number and relative strength of buyers and sellers, degree of freedom in determining the price, level and forms of competition, extent of product differentiation and ease of entry into and exit from the market
Monopoly is a pivotal area to the study of market structures, which directly concerns normative aspects of economic competition, and sets the foundations for fields such as industrial organization and economics of regulation. There are four basic types of market structures under traditional economic analysis: perfect competition, monopolistic competition, oligopoly and monopoly...
Students should be able to:
Understand the assumptions of perfect competition and be able to explain the behaviour of firms in this market structure.
Understand the significance of firms as price-takers in perfectly competitive markets. An understanding of the meaning of shut-down point is required. The impact of entry into and exit from the industry should be considered.
Students should be able to:
Carry out diagrammatic analysis of the market structure in both the short and long run
Understand the importance of advertising and differentiation for the model of monopolistic competition and be able to contrast this with other market structures.
Students should be able to explain and evaluate the efficiency of monopolistic competition
In a monopoly market, factors like government license, ownership of resources, copyright and patent and high starting cost make an entity a single seller of goods. All these factors restrict the entry of other sellers in the market. Monopolies also possess some information that is not known to other sellers.
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
2. CERTIFICATE
THIS IS TO CERTIFY THAT
DIVYANSHI NARULA
OF CLASS XII-H, AMITY INTERNATIONAL SCHOOL, SECTOR-46, GURUGRAM HAS WORKED UNDER MY
SUPERVISION ON THE ECONOMICS PROJECT AND HAS SUCCESSFULLY COMPLETED IT TO MY TOTAL
SATISFACTION.
PRINCIPAL’S SIGNATURE ECONOMICS TEACHER
4. ACKNOWLEDGEMENT
– I would like to express my special thanks of gratitude to my teacher Ms.
Poonam Goel as well as our principal Ms. Arti Chopra who gave me the golden
opportunity to do this wonderful project on the topic MAIN MARKET FORMS
which also helped me in doing a lot of Research and I came to know about so
many new things I am really thankful to them.
– Secondly i would also like to thank my parents and friends who helped me a lot
in finalizing this project within the limited time frame.
5. OBJECTIVES
– To study how types of market forms can be effective at times and adversely
affect certain groups of indivisuals or institutions.
– To analyse several case studies and giving opinions on them.
7. WHAT IS A MONOPOLY?
– A monopoly refers to when a company and its product offerings dominate a
sector or industry. Monopolies can be considered an extreme result of free-
market capitalism in that absent any restriction or restraints, a single company
or group becomes large enough to own all or nearly all of the market (goods,
supplies, commodities, infrastructure, and assets) for a particular type of
product or service. The term monopoly is often used to describe an entity that
has total or near-total control of a market.
– • Natural monopolies can exist when there are high barriers to entry; a
company has a patent on their products, or is allowed by governments to
provide essential services.
8. – High or no barriers to entry: Competitors are not able to enter the market, and the
monopoly can easily prevent competition from developing their foothold in an
industry by acquiring the competition.
– Single seller: There is only one seller in the market, meaning the company becomes
the same as the industry it serves.
– Price maker: The company that operates the monopoly decides the price of the
product that it will sell without any competition keeping their prices in check. As a
result, monopolies can raise prices at will.
– Economies of scale: A monopoly often can produce at a lower cost than smaller
companies. Monopolies can buy huge quantities of inventory, for example, usually a
volume discount. As a result, a monopoly can lower its prices so much that smaller
competitors can't survive.
9. WHAT IS MONOPOLISTIC
COMPETITION?
– Monopolistic competition characterizes an industry in which many firms offer products or
services that are similar, but not perfect substitutes. Barriers to entry and exit in a
monopolistic competitive industry are low, and the decisions of any one firm do not directly
affect those of its competitors. Monopolistic competition is closely related to the business
strategy of brand differentiation
– Decision Making: Monopolistic competition implies that there are enough firms in the
industry that one firm's decision does not set off a chain reaction. In an oligopoly, a price cut
by one firm can set off a price war, but this is not the case for monopolistic competition.
– Pricing Power: As in a monopoly, firms in monopolistic competition are price setters or
makers, rather than price takers. However, the firms nominal ability to set their prices is
effectively offset by the fact that demand for their products is highly price elastic. In order to
actually raise their prices, the firms must be able to differentiate their product from their
competitors by increasing its quality, real or perceived.
10. – Number of firms: Say you've just moved into a new house and want to stock up on
cleaning supplies. Go to the appropriate aisle in a grocery store, and you'll see that
any given item—dish soap, hand soap, laundry detergent, surface disinfectant, toilet
bowl cleaner, etc.—is available in a number of varieties. For each purchase you need
to make, perhaps five or six firms will be competing for your business.
– Economic Profit: In the short run, firms can make excess economic profits. However,
because barriers to entry are low, other firms have an incentive to enter the market,
increasing the competition, until overall economic profit is zero. Note that economic
profits are not the same as accounting profits; a firm that posts a positive net
income can have zero economic profit, since the latter incorporates opportunity
costs.
11. WHAT IS OLIGOPOLY?
– Oligopoly is a market structure with a small number of firms, none of which can keep the
others from having significant influence. The concentration ratio measures the market share
of the largest firms. A monopoly is one firm, duopoly is two firms and oligopoly is two or more
firms. There is no precise upper limit to the number of firms in an oligopoly, but the number
must be low enough that the actions of one firm significantly influence the others.
– Oligopolies in history include steel manufacturers, oil companies, rail roads, tire
manufacturing, grocery store chains, and wireless carriers. The economic and legal concern is
that an oligopoly can block new entrants, slow innovation, and increase prices, all of which
harm consumers. Firms in an oligopoly set prices, whether collectively – in a cartel – or under
the leadership of one firm, rather than taking prices from the market. Profit margins are thus
higher than they would be in a more competitive market.
– • Government policy can discourage or encourage oligopolistic behavior, and firms in
mixed economies often seek government blessing for ways to limit competition.
12. – Monopoly Power: There is a clement of monopoly power in oligopoly. Since
there are only a few firms and each firm has a large share of the market. In its
share of the market, it controls the price and output. Thus an oligopoly has
some monopoly power.
– Large number of consumers: In this market, there are large numbers of
consumers to demand the product.
– Interdependence among firms: In oligopoly market, each firm treats the other
as its rival firm. It is for this reason that each firm while determining price of its
product, takes into account the reaction of the other firms to its own action.
13. MONOPOLY MARKET
EFFECTS ON CONSUMERS
DISADVANTAGESTO THE COMMON PEOPLE
Poor level of service.
Lack of competition may lead to low quality and out dated goods and services.
No consumer sovereignty. A monopoly market is best known for consumer
exploitation. There are indeed no competing products and as a result the
consumer gets a raw deal in terms of quantity, quality and pricing.
Consumers may be charged high prices for low quality of goods and services.
14. ADVANTAGES TO THE COMMON PEOPLE
Monopolies may use price discrimination which benefits the economically
weaker sections of the society.
15. MONOPOLISTIC COMPETITION
MARKET EFFECT ON
CONSUMERS
ADVANTAGES
Consumers get the best possible prices, quantity, and quality of goods and services
There’s a boost to innovation.
Large international companies create a lot of jobs for the global economy.
Companies can provide consumers with better consistency when they exist
internationally.
An advantage of monopolistic competition is that it enhances a firm's ability to improve
a product's quality through its brand.
16. OLIGOPOLY MARKET
EFFECTS ON CONSUMERS
ADVANTAGES
– An oligopoly can adopt a competitive strategy.
– Oligopolies can offer more information to their consumers.
– It allows for more product refinement to occur.
– It can bring price stability to the market.
17. DISADVANTAGES
– Customers must put up with poor service because there are no other choices.
– Companies can add fees and charges because there is no competition.
– It creates the appearance of choice without really giving you one.
– Higher concentration levels reduce consumer choice.
– Collusion is possible in this structure to further reduce competition.
– It can lead to decision-making bias and irrational behavior.
19. INDIAN RAILWAYS
– Indian railways is a publicly owned company controlled by the govt. of india, via
the ministry of railways.
– Each of the sixteen zones is headed by general manager (GM).
– The zones are further divided into divisions under the control of divisional
railways manager (DRM). the divisional officers of engineering, mechanical,
electrical, signal and telecommunication accounts, personnel, operating,
commercial and safety branches.
20. Why IR is considered as a
MONOPOLY?
Single seller, many buyers
No substitutes (not even close)
Closed entry
Price maker
Price discrimination
Senior citizen
Students
Army officials, etc.
21. OUR SOULTION FOR MONOPOLY
IN INDIAN RAILWAYS
– Privatise all the companies that manufacture rolling stock and build rail
infrastructure, also allow FDI in these areas.
– The ownership of railway infrastructure must be govt. owned. The design,
operation, management and expansion of the railway network and
infrastructure must be with a regulatory body like that for aviation.
– The ministry of railway must be merged into the industry of civil aviation,
surface transport, national highways an others to form a ministry of transport.
This will formulate critical legislation regarding safety regulations,
customer rights and welfare, standardization, quality services, etc.
22. – This train operating company called Indian railways shall compete with private train operating
companies which will also be allowed to run trains using the same network on equal terms.
– Divide the railway network into 5-12 trunk routes and others. Let the ministry of transport
own these routes and transfer the rest to the respective states. Let the central establishment
work mostly on trunk routes and the state govt. expand the local network, light rail systems
and integrate them with the trunk routes.
This will give better coverage and utilization
– Any proposed routes, expansions or modernizations must be cleared by the national rail
governing body to ensure it meets the national rail standards, quality, safety, etc. and is
compatible with the existing trunk routes.
24. PRICE AND NON PRICE
COMPETITION IN GYM MARKET
– The UK gym / health club industry generates > £2 billion of revenues annually
with over 1500 businesses employing nearly 40,000 people.
– Gyms and fitness centres are concentrated in urban areas where high
population density makes businesses more viable.
– The market position leading mid-market gyms has come under pressure in
recent years. Consumers are switching towards budget gyms, which donot
require long-time contracts and charge less because they only offer basic
services.
25. • Pay as you go
• Basic equipment
• Often out of town
• Many open 24 hours
• Dry facilites only- gym,
classes
• Membership
subscriptions
• Wet (spa, pool) and
dry facilities.
• Car parking
• Restaurants
• Tailored instruction
26. OLIGOPOLY IN AUTOMOBILE
INDUSTRY
– THE INDIAN CAR INDUSTRY OLIGOPOLY
– The Hindustan motors- the first Indian car company to start production in india-
founded in 1942 by Mr BM Birla; embassador- The flagship car.
– Establishment of other car manufacturing companies like Premier Automobiles
(1944); Premier Padmini – The flagship car, now also used for cab services.
27. REASONS FOR OLIGOPOLY
STRUCTURE
– In 1947, govt. of india and private sector launched efforts to create automotive
components manufacturing industry.
– Slow growth in 1950s and 1960s; Reasons- Liscence Raj, Nationaliszation,
socialistic approach, MRTP Act.
– The industries ( development and regulation ) Act passes in 1951 to implement
Industrial policy resolution of 1948- one of the reasons for closed markets.
– The act empowerd govt. to prescribe prices, methods, volume of production,
channels of distribution.
28. IMPACT OF OILIGOPOLY
STRUCTURE
– Impact on automobile industry- growth very slow because of low demand and
low economic status of the country.
– Govt restrictions provided no motivation or incentive for firms to do
technological upgradation.
– Supply was low and there wasn’t many competitors.
– Impact on consumers- Consumers did not have many choices; the demand was
fairly low as cars were still a luxury and availability of same models.
29. CAUSES OF
TRASFORMATION
– Sanjay Gandhi owned Maruti technical services limited which was liquidated.
– After his death, Indira Gandhi govt. collaborated with Suzuki motors, a Japanese
firm, for collaboration- formation of Maruti Udyog ltd. And renamed later
Maruti Suzuki in 2007
30. EFFECTS OF
TRANSFORMATION
– New firms, including foreign players, entered with modern engineering,
efficient processes and modern shop-floor layouts.
– Indian automobile industry grew at 14.31% per anum in 1991 era compared to
8.56% per anum during 1985-91.
– Delicencing of sector attracted many major global automobile (GM, FORD,
HONDA, HYUNDAI, etc.) to start assembly in India.