Market structure & different types of market
The market structure defines, the nature of competition in a market for various types of goods and services.
Market structure can be classified into four types of market.
1. Perfect Competition: - In this types of market, a huge number of buyers and seller are present and all are occupied in buying and selling of similar types of product at a similar price.
Example:- The sellers who are selling vegetables like cabbage, carrot can be an example of perfect competition.
2. Monopolistic Competition: - In this types of market, a large number buyer and sellers are busy in buying and selling of similar types of product but not homogeneous.
Example:- Builder, restaurants, hotels business can be an example of monopolistic competition.
3. Oligopoly Market: - In this types of market, we find a less number of a seller selling similar or different types of product.
Example:- Manufacturers of cars, Cement, electrical appliances can be an example of oligopoly market.
4. Monopoly Market: - In this types of market, a single seller is responsible for selling unique goods, and protect new firm enter in the market.
Example:- Railway, local water supply company, the cable operator can be examples of a monopoly market.
No comments:
Post a Comment