Assignment
Assignment on Learning Outcome 3 and 4
Course: Business Environment
Supervised by Kashfia Afrin, Faculty of Business School
Submitted by Fahim Faisal (ID: 2013421012)
Rokeya Rahman (ID: 2013321006)
Abrar Karim (ID: 2013121030)
Tanvir Hossain (ID: 2013121019)
Submission Date: 13th December 2013
Task-8 (LO 3.1): Explain how market structures determine the pricing and output decisions of the organization
Market Structure: It depends on the number of suppliers in the market. There are 4 types and they are:
Perfect competition
Pure monopoly
Monopolistic competition
Oligopoly
Perfect competition: It includes various buyers and sellers and all the products are homogeneous and same. In perfect competition there is no control over price. The output depends on customers demand. For example: Daily necessary items like rice, salt, sugar can be in perfect competition.
Pure monopoly: There is only one seller but various buyers and he has the control over the price but the price is on limit. There is only one producer in this market where is no competitor. But the advantage is unique and genuine products are provided in this market though this market structure is no seen nowadays.
Monopolistic competition: There are many sellers but the market is dominated by few organizations only. Products are same here but the quality can differ. The firm can control the price but not the actual control; it may depend on competitor’s price also. Here the output of product is depends on demand of the customers.
Oligopoly: There are many buyers but few sellers in the market. For example: There are only few telecommunication companies in our country. They’ve invested huge capital and it will be hard for a new telecommunication company who wants to enter in the market. Here, price is affected by competitor’s offering price and output will be affected by competitor also.
Analysis
As Ecstasy is one of the leading fashion houses in Bangladeshi textile
Course: Business Environment
Supervised by Kashfia Afrin, Faculty of Business School
Submitted by Fahim Faisal (ID: 2013421012)
Rokeya Rahman (ID: 2013321006)
Abrar Karim (ID: 2013121030)
Tanvir Hossain (ID: 2013121019)
Submission Date: 13th December 2013
Task-8 (LO 3.1): Explain how market structures determine the pricing and output decisions of the organization
Market Structure: It depends on the number of suppliers in the market. There are 4 types and they are:
Perfect competition
Pure monopoly
Monopolistic competition
Oligopoly
Perfect competition: It includes various buyers and sellers and all the products are homogeneous and same. In perfect competition there is no control over price. The output depends on customers demand. For example: Daily necessary items like rice, salt, sugar can be in perfect competition.
Pure monopoly: There is only one seller but various buyers and he has the control over the price but the price is on limit. There is only one producer in this market where is no competitor. But the advantage is unique and genuine products are provided in this market though this market structure is no seen nowadays.
Monopolistic competition: There are many sellers but the market is dominated by few organizations only. Products are same here but the quality can differ. The firm can control the price but not the actual control; it may depend on competitor’s price also. Here the output of product is depends on demand of the customers.
Oligopoly: There are many buyers but few sellers in the market. For example: There are only few telecommunication companies in our country. They’ve invested huge capital and it will be hard for a new telecommunication company who wants to enter in the market. Here, price is affected by competitor’s offering price and output will be affected by competitor also.
Analysis
As Ecstasy is one of the leading fashion houses in Bangladeshi textile