Mr Parmeshwar B Gore, Ph.D.

Q.1 a.  ( Module no. II ) 9) Monopolistic   Competition : The market in which many sellers selling different varieties of a product or a few sellers dominating  marker for either differentiated products or commodities 10)   Production cost : It refers to the total expenses incurred to produce goods and services. They are in the form of form of rent, wages and salaries, interest and normal profit. 11)   Selling Cost : Selling costs are incurred in market other than perfect competitive market. It aims at  promoting a commodity against its rival and it is done for promoting the sell. 12)   Excess   Capacity : Is the unused capacity of the difference between actual and optimum output. 13) Oligopoly : Is a market form in which there are few sellers of homogeneous or differentiated product 14)   Pure   Oligopoly : Is a market form in which there are few sellers of homogeneous 15) ...

Q. 1 a)     Define the Following                                                                                               10 Marks                                         ( Module no. I ) 1)   Market : Market is usually understood as a place where sellers (producers) and buyers meet                                for settling a transaction.                 Market is also defined as a group of firms and individuals that are in touc...