1. Features and Appraisal of New Economic Policy
By:-
Dr Tulsi Raman Sharma
Dept of Economics
GDC Theog

2. Market Classification
Perfect Competition
Monopoly
Imperfect Competition
(i) Duopoly
(ii) Oligopoly
(iii) Monopolistic

3. Market Classification
Perfect Competition
Monopoly
Imperfect Competition
Duopoly
Oligopoly
Monopolistic

4. 1. Perfect Competition Large Number of sellers and buyers
Product Homogeneity
Free entry and exit of firms
No government regulations
Perfect mobility of factors of production
Perfect knowledge

5. 2. Monopoly Single seller and large number of buyers
No close substitues for commodity
Barriers to entry
Firm is also an industry
Price discrimination

6. 3.1 Duopoly Two sellers Large number of buyers Product differentiation
Intense competition
Interdependence
Selling costs
Non Price competition

7. 3.2 Oligopoly A few sellers(less than ten) Large number of buyers
Product homogenity or Differentiation
Dependency
Intermediate demand curve and price
Non-price competition
Selling Costs

8. 3.3 Monopolistic Competition
Large number of sellers and buyers
Product Diferentiation
Free entry and exit of firms
Selling costs
Non –Price competition.