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प्रश्न
Explain the types of the market on the basis of time.
उत्तर
- Very Short Period Market:
Markets that deal in perishable goods like, fruits, milk, vegetables, etc. are called the very short period market. There is no change in the supply of goods. - Short Period Market:
In certain goods, supply is adjusted to meet the demand. The demand is greater than the supply. Such markets are known as Short Period Market. - Long Period Market:
This type of market deals in durable goods, where the goods and services are dealt for longer period of usages
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संबंधित प्रश्न
Give economic term:
The point where demand and supply curve intersect.
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.
Identify & explain the concept from the given illustration.
Anoop Ayurveda produces unique herbal hair oil which has no close substitutes.
Explain any four features of monopolistic competition
Explain the concept of perfect competition and price determination under perfect competition
What is meant by Spot Market?
What is meant by Commodity Market?
How the market can be classified on the basis of Economics?
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
Read the given passage and answer the questions:
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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.
