Q9.Give a brief account of types of market with their special features.
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These four market structures each represent an abstract (generic) characterization of a type of real market. Market structure is important in that it affects market outcomes through its impact on the motivations, opportunities and decisions of economic actors participating in the market.
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feature of market
One commodity: ADVERTISEMENTS:
Area: In economics, market does not refer only to a fixed location.
Buyers and Sellers:
Perfect Competition:
Business relationship between Buyers and Sellers:
Perfect Knowledge of the Market:
One Price:
Sound Monetary System:
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