Objectives
1 To define and explain the meaning of markets.
2 To explain the concept of market structure and its significance.
3 To describe the characteristics of the different types of market.
4 To examine the relationships between structure, conduct and performance.
5 To explain the equilibrium conditions for different types of market in terms
of price and output, both in graphical and algebraic terms.
6 To explain the types and significance of entry and exit barriers.
7 To give examples of different industries where different market conditions
exist, explaining their prevalence.
8 To examine some welfare implications regarding different forms of market.
9 To emphasize the importance of oligopolistic markets, and examine the
particular problems relating to their analysis.