TOPIC –DIFFERENT TYPES OF MARKET YEAR- FIRST
Description: TOPIC DIFFERENT TYPES OF MARKET YEAR- FIRST SEMESTER-1 SESSION -2020-2021 PAPER NAME MICROECONOMICS-I PREPARED BY DR. KAMALIKA CHAKRABORTY ASSISTANT PROFESSOR (DEPARTMENT OF ECONOMICS) KHATRA ADIBASI MAHAVIDYALAYA, BANKURA, WEST BENGAL
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slide1. TOPIC –DIFFERENT TYPES OF MARKET
YEAR- FIRST SEMESTER-1 SESSION -2020-2021 PAPER NAME – MICROECONOMICS-I PREPARED BY
DR. KAMALIKA CHAKRABORTY
ASSISTANT PROFESSOR (DEPARTMENT OF ECONOMICS)
KHATRA ADIBASI MAHAVIDYALAYA, BANKURA, WEST BENGAL DATE OF LECTURE: 10/03/2021 COURSE: B.Sc. (PROGRAMME) IN ECONOMICS<br>
slide2. Different Criteria for Classification of MarketsÂ
Markets can be classified on the basis of the following criteria:
Characteristics<br>
slide3. Features of Perfect Competition
(i)There are large numbers of sellers
(ii) Sellers and buyers are price-takers
 (iii) Products produced are homogeneous in nature
(iv) There is free entry and free exit of firms to and from the industry
(v) There are no transport costs
(vi) There are no selling costs
Examples: Foreign exchange markets, Agricultural markets etc<br>
slide4. Features of Monopoly
There exists only one seller producing a commodity that has no close substitutes in the market
(ii) The monopolist behaves as a price-maker
(iii) Entry is completely restricted
Examples: Railways, Microsoft etc<br>
slide5. Features of Monopolistic Competition
 (i) There exist several or many sellers
(ii) Sellers sell differentiated products, that is, product of one seller is a fairly close substitute for those of other sellers
(iii) Sellers have some influence over the price of their products
 (iv) There is freedom of entry and exit
(v) Selling costs or advertisement expenditure plays a key role in this type of market
Examples: Restaurant business, Hotels, Consumer services such as hairdressing etc.<br>
slide6. Features of Oligopoly
 (i) There exists few sellers
(ii) Sellers may sell homogeneous or differentiated products
(iii) Each oligopoly seller considers the effect of his action (namely, price) on other rival sellers (thus, sellers recognize their interdependence)
(iv) Entry is restricted
Examples: Auto industry, Cable television etc<br>
slide7. THANK YOU<br>
YEAR- FIRST SEMESTER-1 SESSION -2020-2021 PAPER NAME – MICROECONOMICS-I PREPARED BY
DR. KAMALIKA CHAKRABORTY
ASSISTANT PROFESSOR (DEPARTMENT OF ECONOMICS)
KHATRA ADIBASI MAHAVIDYALAYA, BANKURA, WEST BENGAL DATE OF LECTURE: 10/03/2021 COURSE: B.Sc. (PROGRAMME) IN ECONOMICS<br>
slide2. Different Criteria for Classification of MarketsÂ
Markets can be classified on the basis of the following criteria:
Characteristics<br>
slide3. Features of Perfect Competition
(i)There are large numbers of sellers
(ii) Sellers and buyers are price-takers
 (iii) Products produced are homogeneous in nature
(iv) There is free entry and free exit of firms to and from the industry
(v) There are no transport costs
(vi) There are no selling costs
Examples: Foreign exchange markets, Agricultural markets etc<br>
slide4. Features of Monopoly
There exists only one seller producing a commodity that has no close substitutes in the market
(ii) The monopolist behaves as a price-maker
(iii) Entry is completely restricted
Examples: Railways, Microsoft etc<br>
slide5. Features of Monopolistic Competition
 (i) There exist several or many sellers
(ii) Sellers sell differentiated products, that is, product of one seller is a fairly close substitute for those of other sellers
(iii) Sellers have some influence over the price of their products
 (iv) There is freedom of entry and exit
(v) Selling costs or advertisement expenditure plays a key role in this type of market
Examples: Restaurant business, Hotels, Consumer services such as hairdressing etc.<br>
slide6. Features of Oligopoly
 (i) There exists few sellers
(ii) Sellers may sell homogeneous or differentiated products
(iii) Each oligopoly seller considers the effect of his action (namely, price) on other rival sellers (thus, sellers recognize their interdependence)
(iv) Entry is restricted
Examples: Auto industry, Cable television etc<br>
slide7. THANK YOU<br>