# CPT Chapter Market

With Bharat Galani.Duration:2hrs

 Market  & Determination of Price Duration (min:sec) What is Market? Introduction 00:56 What is Market 02:11 Features of Market 06:07 Classification of Market 22:32 Types of Competition 18:19 Revenues 13:30 Relationship Between AR,MR & Price elasticity 03:46 Behavioural Principle 03:40 Quiz 08:15 Conclusion 01:44 Price determination Determination of Price Introduction 01:06 Equilibrium 04:15 Change in Demand & Supply 12:44 Simultaneously Change in Demand & Supply 11:22 Quiz 08:21 Conclusion 01:21 Total 2:00:09

Few MCQ Examples-

Given the relation MR = P (e-1/e ) ,if e < 1, then
(a) MR < 0
(b) MR > 0
(c) MR = 0
(d) None of these

MR of nth unit is given by:
(a) TRn-TRn-1
(b) TRn/TRn-1
(c) TRn+TRn-1
(d) All of these

Given, AR = 5 and Elasticity of demand = 2 Find MR.
(a) + 2.5
(b) - 2.5
(c) + 1.5
(d) + 2.0

If a seller obtains Rs.3,000 after selling 50 units and Rs.3,100 after selling 52 units then MR will be
(a) 59.62
(b) 50.00
(c) 60.00
(d) 59.80

Conclusion-

What is a Market?
Elements of a market
Classification of market
Concepts of TR, AR & MR

## Notes

Index

What is a Market?
Elements of a market
Classification of market
Concepts of TR, AR & MR

Elements of market

i. buyer & seller
ii.product or service
iii.bargaining for a price
iv.knowledge about market condition
v.one price for a product or service at a given time.

Classification of Market

Basis :
Area
Time
Nature of transaction
Regulation
Volume of Business
Types of competition

Classification of Market:Area

Local Market- perishable goods, bulky articles
Regional Market- Semi-durable goods
National Market- durable & industrial items
International Market- precious comodity

Classification of Market:Time

Very- short period Market:
supply fixed. ex- perishable goods
Short period Market:
Supply can be increased by employing variable factors,ex-contract workers
Long period Market
Supply can be increased by employing fixed factors of prod.ex- new plant
Very-long period or secular period

Classification of Market:Transaction

Spot Market
goods are physically transacted on the spot ex-local rice market

Future Market
goods are transacted for future dates. ex- MCX

Classification of Market:Regulation
Regulated Market
By Govt to curb unfair practices . ex- telephone(TRAI), Stock Exchange(SEBI)

Unregulated Market
Free Market ex- mobile handset market

Classification of Market:Volume

Wholesale Market
Bulk , APMC market , Flower market (Dadar)
Retailers buy from Wholesale market

Retail Market
Small quantities,
Consumers buy from Retail Market

Classification of Market:Competition

Perfect Competition
Monopolistic Competition
Oligopoly
Monopoly

# CPT Exam Exposure

Take Quiz

Determination of Prices

Show you appreciate by sharing!

Free Quiz & Video