Features and Appraisal of New Economic Policy

Slides:

Advertisements

Similar presentations

Monopolistic Competition

Advertisements

Market Structures.

Oligopoly Oligopoly is a a market structure with several _________ sellers. A market structure with only two sellers is called a _______. dominating.

MARKET “A market is an area over which buyers and sellers negotiate for the exchange of a well defined commodity”

Monopolistic Competition. Market Structure Product Differentiation Product Differentiation Few Many Number of Firm Differentiation Product Differentiation.

Economists assume that there are a number of different buyers and sellers in the marketplace. For almost every product there are substitutes, so if one.

Market Structures. Monopoly  Single seller of a product dominates market  “price makers”/”price setters”  Barriers to entry high  Most newspapers,

Chapter 5 Law of Supply INTRODUCTION: Units of commodity which are produced by the producers are called production. Some part of the total production kept.

Market Structure The concept of market structure simply relates to how much market power or control a particular firm has in affecting the level of market.

Copyright © 2004 South-Western WHAT IS A COMPETITIVE MARKET? A perfectly competitive market has the following characteristics: There are many buyers and.

MARKET STRUCTURE Samir K Mahajan, M.Sc, Ph.D.,UGC-NET.

Pure Competition Mr. Henry AP Economics.

PERFECT COMPETITION 7.1.

Market Structures Ms. M. Ward Economics

Marketing Market type.

Market Structure.

Factors Determining Market Structure: 1.No. of independent sellers (large, few, two, one) 2.Seller Concentration (Non-existent, low, medium, high) 3.Product.

Monopolistic Competition

Competition And Market Structure

Economics: Principles and Applications, 2e by Robert E. Hall & Marc Lieberman.

Microeconomics Unit III: The Theory of the Firm. The selling environment in which a firm produces and sells its product is called the market structure.

Market Structure Dr.Deepakshi Gupta

PRICING & OUTPUT DECISION

Competition in a Free Market Economy. What is Competition? Competition is the struggle between buyers and sellers to get the best products at the lowest.

Managerial Economics in a Global Economy, 5th Edition by Dominick Salvatore Chapter 8 Market Structure: Perfect Competition, Monopoly and Monopolistic.

Imperfectly Competitive Markets Monopolistic Competition Oligopoly.

OUTLINE Perfect Competition Monopoly Monopolistic Competition

Market structure in economics. Market In the ordinary language the term market means a particular place where buyers and sellers meet each other and buy.

1.How do you face competition in your daily life? 2.How does competition apply to economics in a positive and a negative way? 1.How do you face competition.

COMPETITION Business Economics. Market Structure Nature & degree of competition among firms in same industry. Industry - companies engaged in a particular.

CH. 9: MARKET STRUCTURE 1. How much COMPETITION is in a MARKET. 2. CRITERIA A. Market Size A. Market Size B. Product Type B. Product Type C. Entry/Exit.

Sources of Market Power

10 | Monopolistic Competition and Oligopoly Monopolistic Competition Oligopoly.

Market Structure What is MARKET? What is MARKET STRUCTURE ? A market is a medium where sellers meet buyers to exchange goods and services. Market Structure.

Supply and Demand How Markets Work?. MARKETS AND COMPETITION The terms supply and demand refer to the behavior of people......as they interact with one.

Economics Learning Steps 9/28/10. Standards & Elements SSEMI4 The student will explain the organization and role of business and analyze the four types.

Dr. G. Loth.  Definition Market is a system by which buyers and sellers bargain for the price of a product, settle the price and transact their business.

Perfect Competition Principles of Microeconomics Boris Nikolaev.

MARKET STRUCTURE CHARACTERISTICS. MARKET STRUCTURE FEATURES When Adam Smith published An Inquiry into the Nature and Causes of the Wealth of Nations (Wealth.

1 Part 5 ___________________________________________________________________________ ___________________________________________________________________________.

Market Structures. Definition Nature and degree of competition among firms operating in the same industry Nature and degree of competition among firms.

Competitive?. Market Structures Objectives Recognize key components of a market structure. Identify the four market structures and explain characteristics.

OLIGOPOLIES AND MONOPOLIES. Monopolistic Competition Large number of potential buyers and sellers Differentiated product (think cellphones) No barriers.

Main Market Forms Foundation Economics BIMTECH June 2009.

INTRODUCTION Normally, the term “Market” refers to a specific place where goods and services are purchased and sold. In economics, the term “Market” does.

Market Structure Characteristics of the Market Organizational Competitive Features that best describe goods or services market.

 Relatively few industries conform to strict characteristics of perfect competition & monopoly  In most industries: ◦ Competition exists because there.

Market Structures 4 Different Types.

Forms of Markets.

Prepared by:Dr.Hassan Sweillam

Monopolistic Competition

BEC 30325: MANAGERIAL ECONOMICS

PERFECT COMPETITION.

Perfect Competition A2 Economics.

Chapter 8 Market Structure: Perfect Competition, Monopoly , Oligopoly and Monopolistic Competition PowerPoint Slides by Robert F. Brooker Harcourt, Inc.

Business Organizations and Competition

Competition and Market Structure

Perfect Competition Large no of buyers & sellers Homogenous products

Market Structure and Competition

Unit 3- Microeconomics Market Structures.

Monopolistic Competition and Oligopoly

BEC 30325: MANAGERIAL ECONOMICS

Competition and Market Structure

BEC 30325: MANAGERIAL ECONOMICS

BEC 30325: MANAGERIAL ECONOMICS

Perfect Competition Market where there are numerous buyers and sellers

Market Structures Pure Monopoly Perfect Competition

Characteristics of Market Structures

Bellwork 1. Incomes increase. In a graph of the market for bus rides (an inferior good) we would expect: a. The demand curve to shift to the left b. The.

Other Market Structures

Presentation transcript:

Features and Appraisal of New Economic Policy By:- Dr Tulsi Raman Sharma Dept of Economics GDC Theog

Market Classification Perfect Competition Monopoly Imperfect Competition (i) Duopoly (ii) Oligopoly (iii) Monopolistic

Market Classification Perfect Competition Monopoly Imperfect Competition Duopoly Oligopoly Monopolistic

1. Perfect Competition Large Number of sellers and buyers Product Homogeneity Free entry and exit of firms No government regulations Perfect mobility of factors of production Perfect knowledge

2. Monopoly Single seller and large number of buyers No close substitues for commodity Barriers to entry Firm is also an industry Price discrimination

3.1 Duopoly Two sellers Large number of buyers Product differentiation Intense competition Interdependence Selling costs Non Price competition

3.2 Oligopoly A few sellers(less than ten) Large number of buyers Product homogenity or Differentiation Dependency Intermediate demand curve and price Non-price competition Selling Costs

3.3 Monopolistic Competition Large number of sellers and buyers Product Diferentiation Free entry and exit of firms Selling costs Non –Price competition.