As this time we learn in our class about different types of market systems .Different market system exists depending on industries and companies .It is important for businessman to know that which market type it is and what can be themarket pricing and selling strategies .
In this marketing system there are 5 types of market : they are as followes :-
1.Monopoly
2.Oligopoly
3.Monopolistic Competition
4.Perfect Competition
5.Monopsony
So now i want to discuss about the type MONOPSONY .
In Monopsony it tells about that market system also depends on the number of buyers are there in the market .As this is not only the differentiate according to the number of supplier exist in market but also the number of buyer exist . Monopsony has only one buyer for particular goods and service , as buyer will give the price for the product produced .
example : as in the labour market , purchaser decide the price for the particular kind of labour he/she need . So according to he/she determine the price for that which comes in example of monopsony marketing system .
In this marketing system there are 5 types of market : they are as followes :-
1.Monopoly
2.Oligopoly
3.Monopolistic Competition
4.Perfect Competition
5.Monopsony
So now i want to discuss about the type MONOPSONY .
In Monopsony it tells about that market system also depends on the number of buyers are there in the market .As this is not only the differentiate according to the number of supplier exist in market but also the number of buyer exist . Monopsony has only one buyer for particular goods and service , as buyer will give the price for the product produced .
example : as in the labour market , purchaser decide the price for the particular kind of labour he/she need . So according to he/she determine the price for that which comes in example of monopsony marketing system .
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