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LEARNING OUTCOME-7
Market and its types
INTRODUCTION OF MARKET
• A market is a place where
buyers and sellers can meet to
facilitate the exchange or
transaction of goods and
services . Market can be
physical like a retail outlet, or
virtual like an e-retailer. Other
examples the illegal markets,
auction markets, and financial
markets.
TYPES OF MARKETS OR DIFFERENT MARKET
STRUCTURE
PERFECT COMPETITION
• Large number of firms – firms are price takers
• Large number of buyers
• Freedom of entry and exit
• Perfect knowledge
• Homogeneous products
Example - Agriculture
MONOPOLY
• A monopoly is a market structure in
which there is a single supplier of a
product.
• The monopoly firm:-
- May be small or large.
- Must be only supplier of the product.
- Sells a product for which there are no
close substitutes.
• A monopoly that is too powerful may be
investigated by the government.
• Example - natural gas company.
OLIGOPOLY
• Oligopoly is a market structure in which there are a few sellers and a
large number of buyers for a commodity in this, the sellers offer
homogenous or differentiated products by recognizing their mutual
dependence. Example – Banking companies.
MONOPOLISTIC COMPETITION
• Monopolistic competition occurs when an
industry has many firms offering products
that are similar but not identical.
• Unlike a monopoly, these firms have little
power to curtail supply or raise prices to
increase profits.
• Firms in monopolistic competition typically
try to differentiate their products in order
to achieve above-market returns.
Example- fast food shops.
NAME – MALTI
UNIT -2
TRADE- MARKETING
EXECUTIVE

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Learning outcome-7 market and its types.pptx

  • 2. INTRODUCTION OF MARKET • A market is a place where buyers and sellers can meet to facilitate the exchange or transaction of goods and services . Market can be physical like a retail outlet, or virtual like an e-retailer. Other examples the illegal markets, auction markets, and financial markets.
  • 3. TYPES OF MARKETS OR DIFFERENT MARKET STRUCTURE
  • 4. PERFECT COMPETITION • Large number of firms – firms are price takers • Large number of buyers • Freedom of entry and exit • Perfect knowledge • Homogeneous products Example - Agriculture
  • 5. MONOPOLY • A monopoly is a market structure in which there is a single supplier of a product. • The monopoly firm:- - May be small or large. - Must be only supplier of the product. - Sells a product for which there are no close substitutes. • A monopoly that is too powerful may be investigated by the government. • Example - natural gas company.
  • 6. OLIGOPOLY • Oligopoly is a market structure in which there are a few sellers and a large number of buyers for a commodity in this, the sellers offer homogenous or differentiated products by recognizing their mutual dependence. Example – Banking companies.
  • 7. MONOPOLISTIC COMPETITION • Monopolistic competition occurs when an industry has many firms offering products that are similar but not identical. • Unlike a monopoly, these firms have little power to curtail supply or raise prices to increase profits. • Firms in monopolistic competition typically try to differentiate their products in order to achieve above-market returns. Example- fast food shops.
  • 8. NAME – MALTI UNIT -2 TRADE- MARKETING EXECUTIVE