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Land utilisation

  LAND UTILIZATION  Land is a scarce resource, whose supply is fixed for all practical purposes. At the same time, the demand for land for various competing purposes is continuously increasing with the increase in human population and economic growth.Land use pattern at any given time is determined by several factors including size of human and livestock population, the demand pattern, the technology in use, the cultural traditions, the location and capability of land, institutional factors like ownership pattern and rights scale regulation. Major Types of Land Utilization in India : As in all other countries, land in India is put to various uses. The utilization of land depends upon physical factors like topography, soil and climate as well as upon human factors such as the density of population, duration of occupation of the area,land tenure and technical levels of the people.There are spatial and temporal difference in land utilization due to the continued interplay of phys...
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CONCEPT OF MARKET

CONCEPT OF MARKET

Market refers to a mechanism or an arrangement that facilitates contact between buyers and sellers for the sale and purchase of goods and services.By the term 'market' we mean a commodity whose buyers and sellers are in direct competition with one another.

Market is classified on the basis of competition among buyers and sellers. The 4 types of market completion are as under :-
a)Perfect competition
b)Monopoly
c) Monopolistic
d) Oligopoly

Meaning of perfect competition
Perfect competition is the name given to a market in which buyers and sellers compete with one another in purchase and sale of a commodity . No one of them has any individual influence over the price of the commodity and entry to the market is free .

Features of perfect competition
a)Large number of small, unorganised firms:This is concerned with the seller's side of the market. The market must have such a large number of sellers that no one seller is able to dominate in the market. No single firm cn influence the price of the commodity. The firms are relatively small as compared to the market as whole . These firms have no kind of association to arrive at an understanding with regard to price or sales .
b)Large number of small, unorganised buyers:This is on the buyer's side. There must be such a large number of buyers that no one buyer is able to influence the market price in any way. Each buyer should purchase just a fraction of market supplies. These buyers should not have any kind of association so that they compete for market demand on an individual basis .
c) Homogeneous products :All the sellers must sell completely identical or homogenous goods. Their products must be considered to be identical by all buyers in market. There should not be any differetiation of products by seller's by way of quality , variety, colour, design or other conditions of product.
d)Free entry and exit: There is absolutely no restriction on entry of new firms in industry or exist of firms from industry which want to leave it . Entry and exist of the firms is possible only in the long period.
e)Perfect knowledge:Both buyers and sellers must have perfect knowledge about the conditions in which they are operating . Sellers must know the prices charged by different sellers . Same price of single product can prevail only if buyers are having perfect knowledge about the market price because if any seller tries to change price higher than prevailing price, the buyer will reject the product.
f) Decision making:There is no agreement between different firms regarding quantity to be produced or price to be changed .It facilitates optimum level of output and lowest level of price .
g)Perfect mobility :The goods and services as well as resources are perfectly mobile between firms. Factors of production can freely move from one occupation to another and from one place to another. There is no barrier on their movement. No one has control over the mobility of factors of production .
h)Absence of transport cost :Price of the product is not affected by the cost of transportation of goods . In other words, we can say that the market price charged by different sellers does not differ due to location of different sellers in the market. No seller is near or distant in any group of buyers . Thus, there is complete absence of transport cost. 
i)Absence of selling cost :Selling costs are expenditures done to stimulate sale of product . Due to homogniety of the product, sellers cannot change the price of the product and firms cannot make any expenditures on publicity and advertisement . 

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