Managerial Economics Antim Prahar 2026

1 Types of Market

•Perfect Markets:

•Perfect Competition: In a perfectly competitive market, there are   many buyers and sellers who are price takers, meaning they have no   influence over the market price. The products sold are homogeneous   (identical), and there is free entry and exit of firms in the industry.   Additionally,  there  is  perfect  information  available  to  all  market   participants.  Examples  of  industries  that  approximate  perfect   competition include agricultural markets, certain financial markets,   and some online retail markets.