1. The buyers and sellers of a commodity are limited to certain area or region.

a. Local market c. National market

b. Provincial market d. Universal market
2. The buyers and sellers of a commodity are confined to certain region as province.
Local market
Provincial market
National market
World market
3. The buyers and sellers are not confined to state boundary, but are spread throughout the country.
They are demanded throughout the nation.
Local market
Provincial market
National market
World market
4. When different types of products are transacted at the same time in a market.
General market
Specialized market
Long period market
Short period market
5. When only one product or any special product is transacted in market. In this, a particular thing is
traded with its different brand names.
General market
Specialized market
Long period market
Short period market
6. When goods are transacted in market under certain rules and norms.
General market
Specialized market
Legal market
Illegal market
7. Transaction of goods taking place in more than or less than quantity prescribed by legal authorities.
General market
Specialized market
Legal market
Illegal market
8. It is such a market structure where there are large numbers of sellers and buyers.
Perfect competition
Monopoly
Monopolistic
Oligopoly
9. It is a mid-way between perfect competition and monopoly. In this the number of buyers and sellers is
relatively low.
Perfect competition
Monopoly
Monopolistic
Oligopoly
10. It is a market structure in which there are few sellers of a product selling identical or differentiated
products.
Perfect competition
Monopoly
Monopolistic
Oligopoly

Types of Market Structure 1-4

Classification of Market 1-5
Characteristic of Monopoly