Advertisements
Advertisements
प्रश्न
How the market can be classified on the basis of Economics?
उत्तर
The Market can be classified on the basis of Economics as follows:
- Perfect Market: A market is said to be a perfect market if it satisfies the following conditions:
- A large number of buyers and sellers are there.
- Prices should be uniform throughout the market.
- Buyers and sellers have a perfect knowledge of the market.
- Goods can be moved from one place to another without restrictions.
- Imperfect Market: A market is said to be imperfect when
- Products are similar but not identical.
- Prices are not uniform.
- There is a lack of communication.
APPEARS IN
संबंधित प्रश्न
Choose the correct option:
Under Perfect competition, sellers are
a) Price makers
b) Price takers
c) Price discriminators
d) None of these
Find the odd word out:
Market structure on the basis of competition: Monopoly, Oligopoly, Very Short Period market, Perfect competition.
Number of firms producing differentiated products which are closely related –
The interaction of demand and supply to determine price of a commodity in perfect competition is ______.
Product differentiation is the main feature of ______.
Distinguish Between
Short period and Long period
Explain any four features of perfect competition
Explain any four features of monopolistic competition
State with reason whether you agree or disagree with the following statement:
Selling cost is the only feature of monopolistic competition.
PASSAGE
Amul is the first choice of so many ice cream lovers in India among the top ice cream brand category. Amul brand, owned by Gujarat Co-operative Milk Marketing Federation, was established in 1946 in Anand, Gujarat.
The second on the list of top ice cream brands in India is Vadilal.
Cornetto and Magnum are one of the top ice cream brands in India owned by Hindustan Unilever. Mother Dairy is a very strong name in the Indian ice cream industry. This company is very similar to Amul, in terms of the products, they manufacture and sell. Another big player in the ice cream industry is Havmor. Havmor Company has been able to stand strong as one of the big fighters in the battle of top ice cream brands in India for very long. Ice cream market also has local and less popular brands apart from the top brands.
Amul was (and still is) in the Guinness record for running the longest- ever advertising campaign. The advertising strategy of Amul through digital marketing made the most of it through platforms such as Facebook, Twitter, Instagram, and others.
- Identify the most important feature of the ice cream market (1 marks)
- Identify the type of cost incurred by firms on advertising campaigns and strategies. (1 marks)
- Express your personal opinion about the ice cream market based on the above information (2 marks)
