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  • Types of Market and Price Determinaton

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    Pratik Bhoir
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    This document discusses different types of markets and how prices are determined. It outlines four main types of market structures: perfect competition, monopolistic competition, oligopoly, and monopoly. Perfect competition is described as a market with many small firms, no single firm influence over prices, and socially optimal output levels. Key assumptions of perfect competition include profit maximization, free entry and exit to the market, differentiated but similar products, and consumer preferences.

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    This document discusses different types of markets and how prices are determined. It outlines four main types of market structures: perfect competition, monopolistic competition, oligopoly, and monopoly. Perfect competition is described as a market with many small firms, no single firm influence over prices, and socially optimal output levels. Key assumptions of perfect competition include profit maximization, free entry and exit to the market, differentiated but similar products, and consumer preferences.

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    © All Rights Reserved
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    Отметить как неприемлемый контент
    8 просмотров5 страниц

    Types of Market and Price Determinaton

    Загружено:

    Pratik Bhoir
    This document discusses different types of markets and how prices are determined. It outlines four main types of market structures: perfect competition, monopolistic competition, oligopoly, and monopoly. Perfect competition is described as a market with many small firms, no single firm influence over prices, and socially optimal output levels. Key assumptions of perfect competition include profit maximization, free entry and exit to the market, differentiated but similar products, and consumer preferences.

    Авторское право:

    © All Rights Reserved
    Скачайте в формате PPTX, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 5

    TYPES OF MARKET AND

    PRICE DETERMINATON
    • TUSHAR
    • VISHAL
    • SEEMA
    • ASHMA
    WHAT IS MARKET ?
    A set up where two or more parties engage in exchange of
    goods, services and information is called a market. Ideally a
    market is a place where two or more parties are involved in buying
    and selling.
    TYPES OF MARKET

    • Perfect competition
    • Monopolistic Competition
    • Oligopoly
    • Monopoly
    PERFECT COMPETITION

    • Perfect competition describes a market structure, where a large number of small


    firms compete against each other. In this scenario, a single firm does not have any
    significant market power. As a result, the industry as a whole produces the socially
    optimal level of output, because none of the firms have the ability to influence market
    prices.
    ASSUMPTIONS OF PERFECT COMPETITION

    • All firms maximize profits.


    • There is free entry and exit to the market.
    • Firms sell differentiated products.
    • Consumers may prefer one product over the other.

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