Price Determination in Different Markets

CA Foundation Business Economics Study Material Chapter 4 Price Determination in Different Markets - Determination of Prices Determination of Equilibrium Price We know that law of demand reveals, if other conditions remain unchanged, more quantity of a commodity is demanded in the market at a lower price and less quantity is demanded at a higher price. Therefore, demand … [Read more...] about CA Foundation Business Economics Study Material – Determination of Prices

CA Foundation Business Economics Study Material Chapter 4 Price Determination in Different Markets - Meaning and Types of Markets MEANING OF MARKET In ordinary language, a market refers to a place where the buyers and sellers of a commodity gather and strike bargains. In economics, however, the term “Market” refers to a market for a commodity. E.g. Cloth market; … [Read more...] about CA Foundation Business Economics Study Material – Meaning and Types of Markets

CA Foundation Economics Chapter 4 MCQ Questions Price Determination in Different Markets MULTIPLE CHOICE QUESTIONS 1. In economics the term market refers to - (i) a particular place (ii) a commodity (iii) buyers and sellers (iv) bargaining for a price (a) only i (b) only ii (c) ii & iii (d) ii, iii and iv 2. Price depends on - (a) utility and scarcity (b) … [Read more...] about CA Foundation Economics Chapter 4 MCQ Questions Price Determination in Different Markets – MCQs

CA Foundation Business Economics Study Material Chapter 4 Price Determination in Different Markets - Oligopoly OLIGOPOLY Introduction: 'Oligo' means few and 'Poly' means seller. Thus, oligopoly refers to the market structure where there are few sellers or firms. They produce and sell such goods which are either differentiated or homogeneous products. Oligopoly is … [Read more...] about CA Foundation Business Economics Study Material – Oligopoly

CA Foundation Business Economics Study Material Chapter 4 Price Determination in Different Markets - Imperfect Competition : Monopolistic Competition IMPERFECT COMPETITION : MONOPOLISTIC COMPETITION Introduction We have studied two models that represent the two extremes of market structures namely perfect competition and monopoly. The two extremes of market … [Read more...] about CA Foundation Business Economics Study Material – Imperfect Competition : Monopolistic Competition