Profile Photo

NCERT solutions for class 12 Economics Determinants of Market

NCERT solutions for class 12 Economics Determinants of Market

NCERT solutions for class 12 Economics Determinants of Market

 

Takshila Learning is also bringing to you some theoretical knowledge in the form of blogs and write-ups. The following blog carries detailed information about “Determinants of Market” from Class 12 Economics.

A market is a whole of the region in which buyers and sellers of a commodity are in close contact and perform the function of sale and purchase of a commodity.

 

DETERMINANTS OF MARKET

 

The following features determine the structure of a market:

 

  • NUMBER OF BUYERS AND SELLERS

This is significant because it helps in predicting whether a single buyer or a single seller is capable of influencing the price of the commodity in the market. The degree of influence on the price depends upon the share of the buyer’s demand in the total demand and the share of the seller’s supply in the total supply of a commodity in the market.

 

  • NATURE OF THE COMMODITY

In case the commodity is homogeneous or identical in nature, it will bag the same price in the market. On the other hand, if the commodity in question is heterogeneous of differentiated in nature, the same commodity is sold at different prices by different sellers ( e.g. tomato ketchup of different brands).

 

For the detailed explanation of Determinants of Market, click on Economics notes for Class 12.

 

  • MOBILITY OF GOODS AND FACTORS

If there is no mobility (i.e. freedom of movement) of goods and factors of production of a commodity, the sellers charge different prices for the same commodity in different parts of the market.

 

  • PERFECT KNOWLEDGE

Uniformity in the price of a commodity in different parts of the market will prevail if the buyers and sellers have complete and perfect knowledge about the prices and costs of goods in the market. This will actually give rise to competition in the market.

You can read previous article Economics Notes CBSE Class 12  Exceptions To The Law Of Demand

Online classes for Economics Class 12 are available at Takshila Learning. These Economics online classes along with economics notes make you learn Microeconomics Class 12 at your own pace and at a time convenient to you. Economics online classes of CBSE Class 12 Economics have been recorded in an easy way with complete graphs and tables to understand the concept.

 

 

 

Follow us on a Social media

 

CBSE & NCERT solutions for class 12 Economics Determinants of Market CBSE & NCERT solutions for class 12 Economics Determinants of Market CBSE & NCERT solutions for class 12 Economics Determinants of Market CBSE & NCERT solutions for class 12 Economics Determinants of MarketCBSE & NCERT solutions for class 12 Economics Determinants of Market

Follow us on Blogarama

Call us: 8800999280/8800999284 or fill the form for any other details:

Share and Enjoy !

0Shares
0 0

No comments, be the first one to comment !

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    © 2020-21 Takshila Learning. All Rights Reserved.
    Request Callback
    close slider
    Send us a Message

    Login

    Open chat
    1
    Course In Installments
    Hello , How May I Help You?
    Takshila Learning https://www.takshilalearning.com/economics-determinants-of-market-notes-class-12 NCERT solutions for class 12 Economics Determinants of Market