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    Main Market Forms: Micro Economics

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    YASH VARDHAN TYAGI
    1. The document discusses different market forms including perfect competition, monopoly, monopolistic competition, oligopoly, and cartels. 2. Perfect competition is characterized by homogeneous products, free entry and exit, perfect knowledge, and no transportation costs or artificial restrictions. 3. Monopoly is a market with a single seller and significant barriers to entry selling a unique product without close substitutes. 4. Monopolistic competition features product differentiation, free entry and exit, and heavy selling costs. 5. Oligopoly is dominated by a small number of large sellers with interdependence and entry barriers.

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    Main Market Forms: Micro Economics

    Uploaded by

    YASH VARDHAN TYAGI
    81 views15 pages
    1. The document discusses different market forms including perfect competition, monopoly, monopolistic competition, oligopoly, and cartels. 2. Perfect competition is characterized by homogeneous products, free entry and exit, perfect knowledge, and no transportation costs or artificial restrictions. 3. Monopoly is a market with a single seller and significant barriers to entry selling a unique product without close substitutes. 4. Monopolistic competition features product differentiation, free entry and exit, and heavy selling costs. 5. Oligopoly is dominated by a small number of large sellers with interdependence and entry barriers.

    Original Description:

    this is a presentation on MAIN MARKET FORMS CLASS_XI

    Original Title

    Main Market Forms

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    1. The document discusses different market forms including perfect competition, monopoly, monopolistic competition, oligopoly, and cartels. 2. Perfect competition is characterized by homogeneous products, free entry and exit, perfect knowledge, and no transportation costs or artificial restrictions. 3. Monopoly is a market with a single seller and significant barriers to entry selling a unique product without close substitutes. 4. Monopolistic competition features product differentiation, free entry and exit, and heavy selling costs. 5. Oligopoly is dominated by a small number of large sellers with interdependence and entry barriers.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    81 views15 pages

    Main Market Forms: Micro Economics

    Uploaded by

    YASH VARDHAN TYAGI
    1. The document discusses different market forms including perfect competition, monopoly, monopolistic competition, oligopoly, and cartels. 2. Perfect competition is characterized by homogeneous products, free entry and exit, perfect knowledge, and no transportation costs or artificial restrictions. 3. Monopoly is a market with a single seller and significant barriers to entry selling a unique product without close substitutes. 4. Monopolistic competition features product differentiation, free entry and exit, and heavy selling costs. 5. Oligopoly is dominated by a small number of large sellers with interdependence and entry barriers.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 15

    Main Market Forms

    Micro Economics
    Practical Class &Sec.: Subject: Topic: Main
    Project XI-D Economics Market Forms

    Teacher: Mrs.
    Name: Yash Session:2020-
    Anupam
    Vardhan Tyagi 2021
    Agnihotri
    Market
    A market is a place where two parties
    can gather to facilitate the exchange of
    goods and services. The parties
    involved are usually buyers and
    sellers. They must have contact
    between each other through any
    means.
    FORMS OF MARKET

    Perfect • .
    Competition • .

    • Monopoly
    Imperfect • Monopolistic
    Competition Competition
    • Oligopoly
    •Pure or perfect
    competition is a
    theoretical market
    structure in which the
    following criteria are met:
    All firms sell an identical
    product (the product is a
    "commodity" or
    "homogeneous"). All
    firms are price takers
    (they cannot influence
    the market price of their
    product). Market share
    has no influence on
    prices.
    Homogenous Product

    Free Entry and Exit

    Perfect Knowledge

    No Transportation Cost

    Large buyers and Sellers

    No Artificial Restrictions
    •In economics, imperfect
    competition refers to a
    situation where the
    characteristics of an economic
    market do not fulfil all the
    necessary conditions of a
    perfectly competitive market,
    resulting in market failure.
    •Monopoly
    • A market structure
    characterized by a single
    seller, selling a unique
    product in the market. In
    a monopoly market, the
    seller faces no competition,
    as he is the sole seller of
    goods with no close
    substitute.
    Lack of Substitutes

    Barriers to Entry

    Lack of Perfect Competition 

    Price Maker

    Firm is itself an Industry


    Monopolistic Competition 
     Monopolistic competition is a type of imperfect competition such that there
    are many producers competing against each other, but selling products that
    are differentiated from one another and hence are not perfect substitutes.
    Free Entry and Exit

    Some Control over


    Price

    Large Number of Firms

    Heavy Selling Costs

    Product Variation
    Oligopoly

    •An oligopoly is a
    market form wherein
    a market or industry
    is dominated by a
    small group of large
    sellers.
    Interdependence
    Features of Lack of
    Advertising Uniformit
    Oligopoly y

    Entry and
    Competitio
    Exit Few Sellers
    n
    Barriers
    •Cartel
    •A cartel is a group of independent
    market participants who collude with
    each other in order to improve their
    profits and dominate the market.
    Cartels are usually associations in the
    same sphere of business, and thus an
    alliance of rivals. Most jurisdictions
    consider it anti-competitive behavior.

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