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Competition

Competition

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Published by: samrulezzz on May 21, 2010
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10/26/2011

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7 & 8 ChapterCompetition
Dr. Gopalakrishna B.V.,Faculty in MBA,SDM, Mangalore
 
Meaning of Market
Market in general – mean particular placeor locality where goods are sold andpurchase.
In economics, the term market we do notmean any particular place/locality in whichgoods are bought and sold.
Buyers and sellers contact throughpersonal contact, exchange of letters,telegrams, telephones and e-mail etc.
For example trade between America andIndia.
 
Meaning of Market……
In the words of Cournot – market not any  particular market place in which things arebought and sold but the whole of any regionin which buyers and sellers are in such freeinteract with one another.
 Thus, essential of market are –
a)Commodit
which is dealt withb)The existence of 
buyers and sellers
c)A place, be it a certain
region/country/world d)Price prevailing
for the commodity.

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