THE CONCEPT OF MARKET STRUCTURES

THE CONCEPT OF MARKET STRUCTURES:  (i)MARKET: This   is an arrangement that brings together buyers and sellers to transact business at a particular period of time. It is the total number of buyers and sellers involved in the exchange of a given product at a particular period of time. (ii) Market structure: This   refers to the behavior of consumers and sellers in the market. It also considers the market conditions such as level of profits, price levels, the level of output, the number of firms etc.