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"Business Economics" Lecture no. 06 (Market (Ideal Market (A…
"Business Economics"
Lecture no. 06
Market
A market is an economic transition and it is a place where buyers and sellers meets and exchange their goods and services.
Imperfect Market
An imperfect market refer to any economic market that does not meet the rigorous of a hypothetical perfectly or purely competitive market.
Ideal Market
A market in which buyer and seller have complete information about a particular product and it is easy to compare prices of products because they are the same as each other etc.
Sales can easily sales, purchaser can easily purchase without intervention
Institution doing work properly, regulators of service providing institution
Labor is available in market, like Pakistan
Human Capital is available
Input Market
No Pressure
Regulators
A regulator is a person or an organization appointed by a government to regulate an area of activity. Government is a regulatory body.
Factors of Regulators
Rules of business
Legal structure of market
Dispute Resolution
It is the process of resolving dispute between parties. Contract between Party “A” and Party “B”.
Good Market
Good market has a positive effect on business results.
Bad Market
Bad market has a negative effect on business results.
Discrimination
The unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, or sex.