School - Online Teaching Subject -Economics Class -XII

Period Branch -Micro Economics Duration - 30

Topic –Forms of Market

LEARNING OBJECTIVES
1) Students will be able to recall the concept of different forms of Market.
2) Students will be able to explain different forms of Market.
3) Students will be able to compare different forms of market.

INTRODUCTORY QUESTIONS

PUPIL TEACHER STATEMENT STUDENT’S STATEMENT

Q1) In your daily life from where you get goods?

Ans1) market is the place we go to get goods.

Q2) Name the different types of shop in the market? Ans2) The different types of shops are fruit shop ,vegetable shop
etc.

Q3) In which form fruit shop are categorized?

(PROBLEMATIC QUESTION )

PUPIL TEACHER STATEMENT

Today we will study about different forms of market.
TEACHING PUPIL TEACHER STUDENTS WHITE RESOURCES EVALUATION
POINT ACTIVITY ACTIVITY BOARD
1) Meaning Developing Questions
of Different
Forms of Q1) Where reasonable price Ans1) We get
Market are available in the market? reasonable price
where large
number of sellers
are available.
PUPIL TEACHER
EXPLAINATION
MEANING OF MARKET

¨Market refers to the whole

region where buyers and seller
of a commodity are in contact
with each other to effect
purchase and sale of the
commodity.
According to economists, “A
market is the process by which
the prices of goods and services
are established”
FORMS OF MARKET
1)PERFECT MARKET
The market forms where there
are many firms that sell a
certain homogeneous product. Q1) In which form
A single firm cannot influence or market large no.
the market price. of sellers and
buyers engaged in
the market?
2)IMPERFECT MARKET:
A) Monopolistic market: - A Student will listen
market situation where we find attentively
a large number of buyers
and sellers.
Q2) In which
Sell products that are market form of
differentiated from one another market perfect
e.g branding or quality and substitutes are not
hence are not perfect available?
substitutes.

B)OLIGOPOLY MARKET

A state of limited competition,

in which a market is shared by
a small number of producers or
sellers.
There are few firms in the
market, producing either an Q3):- what are the
identical product or types of imperfect
differentiated but the close market?
substitutes goods.

4)MONOPOLY MARKET:-

A market situation where there

exists a single seller selling Q4) Give one
such a good which has no close example of
substitutes. monopoly market?
They are the PRICE setters.
TEACHING PUPIL TEACHER STUDENTS WHITE RESOURCES EVALUATION
POINT ACTIVITY ACTIVITY BOARD

2) DEVELOPMENTARY
FEATURES QUESTIONS
OF FORMS
OF Q) Which market is suitable Ans) Perfect
MARKET with the respect of customers? market is suitable
for customers.

PUPIL TEACHER
EXPLAINATION
1)FEATURES OF PERFECT
MARKET:-
1) Large number of buyers and
sellers. Q) In which forms of
2) Freedom of Entry and Exit; market there is
freedom of entry
this will require low sunk costs.
and exist?
3) All firms produce an
identical or homogenous
product.
4) All firms are price takers;
Therefore firm’s demand curve
is perfectly elastic.
2) FEATURES OF
MONOPOLISTIC
MARKET:-
1) Profit Maximization
conditions.
2) Ability to set price.
3) Entry and Exit. Q) Which type of
decision making in
4) Number of firms. monopolistic
5) Long run profits. market?

6) Product differentiation.
3) FEATURE OF
OLIGOPOLY MARKET
1) Profit Maximization
conditions.
2) Ability to set price.
Q) In oligopoly
3) Entry and Exit. forms of market
4) Number of firms. which type of
profit occurs?
5) Long run profits.
A)long run
6)Product differentiation.
B) Short run
7) Perfect Knowledge.
4)Features of monopoly
1) Single seller.
2) Large number of buyers.
3) No close substitutes 4) Price
 discrimination.
5) No selling cost. Q) Monopoly
6) Relatively inelastic demand market is suitable
curve. for seller or buyer?

CLOSURE
By concluding market is a place where seller are willing to sell the commodity and buyers are able to purchase it at a certain price
these are various forms of market like perfect market and imperfect and monopoly market .
RECAPITULATION:
True / false
1) Monopoly market is suitable for customers.
2) Perfect competition has single seller.

FILL IN THE BLANKS

1) --------- Market has no close substitutes.
2) ----------market have large no of buyers and sellers process.
HOME ASSINGMENT
Q1) Write down the concept of perfect market.