Forms of Market

In economics sense, market includes following activities-

• The place where goods are sold and purchased

• An arrangement through which buyers and sellers cokme in close contact with each other directly or indirectly

• A shop where goods are sold

• All of the above

Classification of markets on the basis of place-

• Local market, National market, International market

• Very short period market, Locaal market, National market

• short period market, National market, International market

• Local market, National market, Short period market

Homogeneous product is a feature of this market-

• Monopoly

• Monopolistic competition

• Perfect competition

• Oligopoly

Under perfect competition, sellers are-

• price makers

• price takers

• Price discriminators

• None of the above

Not a feature of Perfect competition-

• Large number of buyers

• Large number of sellers

• Different prices

• Perfect mobility

Not a feature of Monopoly-

• Single seller

• No close substitute

• Control over supply

• Price takers

Not a type of monopoly

• Joint

• Private

• Simple

• Complex

Legal monopoly is recognized by-

• Legal provisions

• Trade Mark

• License

• All of them

Not a type of imperfect market-

• Monopoly

• Oligopoly

• Monopolistic Competition

• Perfect competition

RIL stands for-

• Retial Infrastructure Limited

• Retail Industrial Ligitation

• Real Industry Landmark

• Reliance Industries Limited