Economics - Market Structure and Pricing: Introduction | 11th Economics : Chapter 5 : Market Structure and Pricing
Chapter: 11th Economics : Chapter 5 : Market Structure and Pricing
Market Structure and Pricing: Introduction
In the ordinary sense, the word ‘market’ refers to a physical place, where commodities and services are bought and sold.
Introduction
Every
commodity or service that is exchanged has two sides: the supply side and the
demand side. The supply side contains information on the number of sellers, the
nature and the quantum of the product produced and brought to the market for
sale. The demand side contains information on the number of buyers entering the
market for buying the product. Hence the study of market and market structure
forms an important feature of micro economics.
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11th Economics : Chapter 5 : Market Structure and Pricing : Market Structure and Pricing: Introduction | Economics
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11th Economics : Chapter 5 : Market Structure and Pricing