Monopoly
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Here this is my first exprience.this slides all around the market. A market structure characterized by a single seller, selling a unique product in the market. In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute.
Monopoly
- 1. Economics Market Perfect competition Monopoly Types of Monopoly Examples of Monopoly Oligopoly & examples Types of Oligopoly Made By Bilal Ahmad bilalahmaaad/facebook.com
- 2. Market In simple words market is a situation in which there are large numbers of buyers and sellers which are in such a close contact that buying and selling is determined or influenced.
- 3. Types of market There are a variety of different market systems. It is important for small business owners to understand what type of market system they are operating in when making pricing and production decisions, or when determining whether to enter or leave a particular industry There are main five types of markets 1. Perfect competition 2. Imperfect competition 3. Monopoly 4. Monopolistic competition 5. Oligopoly
- 4. Perfect Competition It is a market situation in which there are large number of buyers and sellers which buy and sell homogeneous goods.
- 19. Types of monopolies 1. Natural monopoly 2. Legal monopoly 3. Social monopoly 4. Self-made monopoly
- 20. Natural monopoly If major portion of aggregate supply o f a commodity is produced in some country then that country gets monopoly on he production of that good. Example Like the gulf state majorly the Saudi peninsula have a monopoly of oil which means they can control the prices and supply of oil as they wish
- 21. Legal monopoly When a firm gets a legal rights to make a commodity and no other firm has right to make it then it is called legal monopoly Example The producers have a legal right of a movie he or she have produced and if anyone have to make a sequel have to ask a permission
- 22. Social monopoly Sometimes government gives full authority for the supply of a commodity of service to some institutions or firm for the sake of social welfare it is called social monopoly Example For example WAPDA have social monopoly in electricity they can only supply it to the consumers
- 23. Self-made monopoly When a few sellers are producing a commodity and they unite instead of competing with one and other and get control on the price and supply of commodity its is called self-made monopoly Example Agreement of division of different market (cartel) and agreement of joint arrangement of resources trust etc.
- 25. OLIGOPOLY The term oligopoly derived from two Greek words:”oligi” means few and “polien” means sell.oligopoly is a market structure in which there is a few sellers and more than two of the homogeneous or differentiated products.So oligopoly lies in between monopolistics compition and monopoly.
- 26. For Example: We have a example of OPEC which is stand by Organization of petroleum Exporting Countries this OPEC control by 12 countries and this group of 12 countries had control 79% of world oil reservers in 2012 according to report.In current days this group control 44% of oil production in the world Since they produce oil only in middle east countries now they include the countries that are outside the middle east. But now They have also made a formal agreement where they try to restrict output of the oil so that they can get the price,whatever they want.
- 27. Working on oil Production:
- 28. Example of Airlines: Airlines is another example of oligopoly because in oligopoly market approaching to perfect compititaion.Major Airlines like British airways and Air France operate their routes with only few close competitors. On the other hand,small airlines cartering for the holidaymaker or offering specialist services.
- 29. Types Of Oligopoly There are two types of oligopoly. Pure/perfect Oligopoly Imperfect/differentiial Oligopoly