Types of Market

A market can be divided on the basis of region (local, state and national market), period (very short period, short period and long period market) and competition. On the basis of competition there can be following types of market: Bilateral Monopoly. One buyer and one seller exist in the market. Pure Monopoly. One buyer and […]

Market

WHAT IS MARKET ?   In common usage the word market designates a place where certain things are bought and sold. But when we talk about the word market in economics, we extend our concept of market well beyond the idea of a single place to which the householder goes to buy something. For our present […]