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The Spot market is classified on the basis of ______. - Commerce

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प्रश्न

The Spot market is classified on the basis of ______.

पर्याय

  • Commodity

  • Transactions

  • Regulation

  • Time

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उत्तर

The Spot market is classified on the basis of transactions.

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पाठ 13: Concept of Market and Marketer - Exercise [पृष्ठ १०७]

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सामाचीर कलवी Commerce [English] Class 12 TN Board
पाठ 13 Concept of Market and Marketer
Exercise | Q I. 3. | पृष्ठ १०७

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:

Charging different prices to different consumers for the same product or services.


Monopoly: Price discrimination:: ______ : Product differentiation


Assertion (A): Product differentiation is the main feature of monopolistic competition.

Reasoning (R): Under monopolistic competition, all the products are perfect substitutes to each other


Distinguish Between

Short period and Long period


What is mean by Regulated Market?


What is meant by Commodity Market?


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.

Find the odd word out:

Classification of markets on the basis of time:


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:

  1. Explain the concept of Market from Economic sense.
  2. Write the classification of Market.
  3. Write your own opinion about selling cost.

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