Objectives:
After going through the material/ unit you will be able to:
- 1. Define the term ‘Market Structure’.
- 2. State the Elements of Market structure.
- 3. Explain the Determinants of Market Structure.
- 4. Classify various Forms of Market Structure.
- 5. Explain the features/Characteristics of Perfect, Monopoly, Monopolistic and Monopsony forms of market.
Task:
- (a) Select any product group such as toothpaste, toilet soap, T.V. refrigerator or any service.
- (b) Try to identify the number of firms producing and selling those products or services in the market ( or try to identify different brand names of those products in the market)
- (c) Try to locate the nature of the advertisement made by the companies, change in design and packaging of their products etc. Try to identify the nature of the competition among the companies/ firms in the market. Also, try to identify the nature of product differentiation.
- (d) Prepare your project report on the nature of the market structure in any of those products markets
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