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Price-output Determinant Ion Under

Price-output Determinant Ion Under

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Published by Priti Kumari

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Published by: Priti Kumari on Jan 10, 2012
Copyright:Attribution Non-commercial

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08/30/2012

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PRICE -OUTPUTDETERMINANTIONUNDERDIFFERENT MARKETFORMS
 
MARKET & ITSCLASSIFICATION
The term Market in Economics has noreference to a particular place. By Market wemean the buyers & sellers of a particular commodity who have some contact with eachother.Classification of Market can be:1. On the basis of area.2. On the basis of time element.3. On the basis of competition.
 
PERFECT COMPETITION:
1.Large no, of buyers & sellers.2.Homogenous product.3.Freedom of entry & exit.4.Perfect Knowledge.5.Perfect mobility.6.No transport cost.7.Absence of Artificial Restriction.

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