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प्रश्न
How the market can be classified?
उत्तर
On the basis of different approaches markets can be classified as follows:
1. On the basis of Geographical Area:
- Family Market
- Local Market
- National Market
- International Market or World Market
2. On the Basis of Commodities / Goods:
(a) Commodity Market
- Produce Exchange Market
- Manufactured G
- Bullion Market
(b) Capital Market:
- Money Market
- Foreign Exchange Market
- The Stock Market
3. On the Basis of Economics:
- Perfect Market
- Imperfect Market
4. On the basis of transaction:
- Spot Market
- Future market
5. On the Basis of Regulation:
- Regulated Market
- Unregulated Market
6. On the Basis of Time:
- Very Short Period Market
- Short Period Market
- Long Period Market
7. On the Basis of Volume of Business:
- Wholesale Market
- Retail Market
8. On the Basis of Importance:
- Primary Market
- Secondary Market
- Terminal Market
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
Give economic term:
The cost incurred by the firm to promote sales.
Characteristics of long period market:
- All factors of production and costs are variable.
- Firms are able to adjust all costs.
- It is for a few years, generally up to five years.
- Supply of commodity cannot be increased.
Number of firms producing differentiated products which are closely related –
Find the odd word
Market on the basis of place -
The interaction of demand and supply to determine price of a commodity in perfect competition is ______.
Identify & explain the concept from the given illustration.
Sunrise Cosmetic Company spends on advertisements, broadcasts on radio and television as well as distributes free samples of its shampoo product to in order to increase its demand.
Explain the concept of perfect competition and price determination under perfect competition
Assertion and reasoning question:
- Assertion (A): With a rising price, the supply of a commodity falls.
- Reasoning(R): Seller earns more profit at a higher price.
Read the given passage and answer the questions:
|
In common language the term market means a specific place where buyers and sellers of a commodity meet and exchange their goods. But in Economics it is not necessarily a place but it is an arrangement through which buyers and sellers come in contact with each other directly or indirectly and exchange of goods takes place among them. Market can be classified on the basis of place, time and competition. Market on the basis of competition is perfect competition and imperfect competition. Perfect competition is an imaginary concept of market and in reality, we observe various types of imperfect competition like monopoly, duopoly, oligopoly and monopolistic competition. In practice monopolistic competition is used. In this market there are some features of perfect competition and monopoly acting together. The uniqueness of this market lies in the fact that a difference is made between cost of production and selling cost. Selling cost refers to the cost incurred by the firm to create more demand for its product and increase the volume of sale. It includes expenditure on advertisement, hoardings, window display etc. |
Questions:
- Explain the concept of Market from Economic sense.
- Write the classification of Market.
- Write your own opinion about selling cost.
