A market is a place where buyers and sellers interact to trade goods, services, or assets. Markets can be local, national, or international depending on whether exchange is localized or crosses political boundaries. In a market, prices and quantities of goods and services are determined through supply and demand. Key aspects of a market include the place of exchange, goods/services being traded, buyers and sellers, and information sharing. Perfect competition is a theoretical market structure with many small firms, identical products, price-taking firms, and complete information for buyers. Oligopoly is a market where a small number of large firms dominate and influence each other's pricing decisions through strategic interactions. Monopoly and monopsony are structures with single sellers or

1. WHAT IS
MARKET?
ACC TO ECONOMICS

2. Market(Economics)
• It is place where
buyers
interact with sellers
in
respect of certain
commodity

3. In Stream Of Economics
Local
market
National
market
International
market

4. LOCAL
MARKET
National
market
 INTERNATIONAL
MARKET

5. Through this process there are
price and quatity determination
of Goods and services
The essence of market
Place
Commodity
Buyers/sellers
Communication

6. Perfect Market
Competition

7. Perfect competition is a
Theoritical Market stucture
in which
All firm sell on identical product
 All firms are price takers
 Market share has no influence on
price
Buyers have complete info of
Product.

9. Oligopoly

10. An oligopoly is a market form wherein a market or industry is dominated by a
small number of large sellers (oligopolists). Oligopolies can result from various
forms of collusion which reduce competition and lead to higher prices for
consumers. Oligopoly has its own market structure.
With few sellers, each oligopolist is likely to be aware of the actions of the others.
According to game theor, the decisions of one firm therefore influence and are influenced
by decisions of other firms. Strategic planningby oligopolists needs to take into account the
likely responses of the other market. Entry barriers include high investmet requirements,
strong consumer loyalty for existing brands and economics of scale.

12. Examples of OLIGOPOLY
Aircraft
Finance
Food
Technology

13. Examples

14. Monopoly

15. A market stucture charecterized
by a single seller,selling a single
a unique product in a market.
In a monopoly market,the seller
faces no competition,as he seller
of unique goods.

17. Monopsony

18. In economics monopsony is a
market structure in which a
single buyer substantially
controlls the market as major
purchaser of goods