7 most essential features of a perfectly competitive market

Market is generally understood to means particular place of locality where goods are bought and sold. However in any particular place or locality does not mean market where goods are bought and sold. The buyers and sellers need not assemble at a particular locality for the buying and selling. The goods can be bought and sold without the direct contact between the buyers and sellers.

Now a day the contact can be made through wireless and cables. In Economics market refers to the market for a commodity. Thus the essential features of a market are (a) a commodity which is bought and sold (b) existence of buyers and sellers, (c) a place (d) The contact between buyers and sellers.

According to John. F.Dve "market as a group of buyers and sellers in sufficiently close contact with one another, that exchange takes place among them". Market consists of different forms like perfect competition, imperfect competitions, etc. Below are given some of the important characteristic features of a perfectly competitive market.

Perfect competition, is said to prevail when the following conditions are found in the market.

(1) Large number of buyers and sellers:

Under perfectly competitive market there is large number of buyers and sellers. The position of a single seller in the market is just like a drop in the ocean. Each buyer purchases only a small quantity of the total amount. Each buyer and seller has no ability to influence the ruling price by their independent action.

The price under perfect competition is given and each seller adjusts its sale to earn maximum profits. Under perfect competition the sellers of a commodity is the price taker and output adjuster and not price makers. They take the market price as a given datum.

(2) Homogeneous Products:

The second condition of perfect competition is that the products sold by the suppliers are fully homogeneous. The commodities available everywhere are the same. The products of various sellers are indistinguishable from each other. They are perfect substitutes for one another.

The cross elasticity between the products is infinite. The commodities are perfectly similar in quality, quantity, size and shape. The buyers are indifferent to any commodity sold in the market. If the commodities sold in the market were differentiated, each seller would influence over the price of his own variety.

The control over price is removed only when all the sellers are producing homogenous products. Thus in a perfectly competitive market, buyers have no other basis of attaching to one seller for purchasing a product other than price.

(3) Uniform price:

Under perfect competition the ruling market price is the same. Price is uniform as the products in the market are identical. Price is fixed by all the buyers and sellers in the market. No Individual effort of a buyer or seller goes to determine price.

If any miller sells at the price less than prevailing price, the demand for his commodity will be so high that he will not be able to supply the commodities at low price to the increased demand. On the other hand if a seller sells at a price higher than the ruling market mice, he will lose by doing so as most of his customers will leave him for his higher price.

(4) Tree entry and free exit:

Under perfect competition buyers and sellers are absolutely free to enter and leave the market. No restriction is imposed on their entry and exit. Under perfect competition firms get only normal profit. At this normal profit there is no tendency on the part of the existing firms to leave the market or the new firms to leave market.

But at abnormal profit and abnormal loss, firms tend to enter and leave the market according" to their will. Thus on the basis of profit and loss firms are at liberty to enter or quit the market.

(5) Perfect knowledge about the market:

One of the most pre-requisite of perfect competition is that both buyers’ and-sellers must have perfect knowledge about the conditions of the market. Sellers must know the ruling market price charged by other sellers from the buyers. Similarly buyers It in know the prices charged by different sellers.

This condition is highly essential for a competitive market. Single price and homogeneous commodity can not prevail if the buyers remain ignorant of the market. When all the buyers can know the price fend the uniform quality of the commodity, nobody will offer more fend therefore single price prevails in the "market,

(6) Perfect mobility:

Under perfect competition it is understood that various factors of production are perfectly mobile within the industry. Factors of production can freely move from one occupation to another and from one place to another. There is no barrier on their movement. Factors move from place to place in search of higher wage. There should not be any kind of imposition on the mobility of resources.

(7) Absence of transport cost:

In a perfectly competitive market there is single unit price. Price being charged by the firms is free of transportation cost. Price is not affected by the cost of transportation of goods. 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 to any buyers. Thus there is no transportation cost from one part of the market to the other. Perfectly competitive market is a myth. Such a market is never found in the real world. It is an ideal. As an ideal market it compares the price and profit condition in imperfect market.

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8 most essential Principles of Cooperation

The ideals or principles of co operation have developed over a number of years. They have been the result of practical experience and success as against other system of reforms like syndicalism, communism etc. Whose theories were first formulated by master minds before put up into practice and adopted. These principles are as follows.

1) A voluntary Association:

In the first place it is purely a voluntary association. Admission to a co operative society is purely voluntary. Any person who feels the need of joining a co operative society and enjoying its benefits becomes its member whenever he like. On the other hand, he may also quite membership on his own accord.

2) Democratic spirit:

The co operative Society is managed by the members themselves either directly or through their own elected representatives. Decisions are take in a meeting in which every member has the right to express himself.

3) Equality:

The co-operative Society is guided by the principle of equality. Every member has one vote irrespective of his of her share in the business of the society.

4) Self help:

The basis of co-operation is self-help. It is based on the recognition that man develop only through his own efforts. Therefore he must stand on this own leg. It accepts outside help only as an aid to his own efforts.

5) Justice for all:

While co-operation stands for the benefits of its members, it believes in justice to all. It does not believe in exploitation or benefits at the cost of others. It aims to ensure every one his due.

6) Service above profit:

The Primary Aim of co-operation is to give service to its members. It aims at profit any to the extent that is necessary as a business organisation. Any extra profit is redistributed to its members in the form of dividend, bonus and rebate.

7) To meet the economic Requirement of its members:

A co-operative Society is a business institution with objective of meeting the economic requirements of its members. It, therefore works on business principles. It is thus neither a charitable organisation nor a mere service institution.

8) To obtain the Material Advantage:

Elucidating the principles of co-operation the Maclagon committee has observed that the principles of co-operation in short is that a single and powerless persons with the help of the other persons, may reap those material advantages that are available to the rich and powerful persons. Unity, Economic Development, Equity, Freedom, Sympathy, Service, Economy and Reliance are the main principles of co-operating.

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A paragraph on A Boat-Trip in Moonlight

I was then at Banaras enjoying my annual summer vacation. Every evening I went to the Gangs. One night there was the moon rising on the east, — a silver disc that threw over the world a spell of magical beauty. My friends proposed a boat-trip in the lovely moonlight of spring and I gladly agreed to join.

A boat was hired and soon we were sailing merrily westwards. The moon shed its lusture on wavelets. On the paved banks one could see the temples and towers high up towards the blue sky. Here was all that the mind could desire, beauty and peace and a deep sense of blessedness.

Soon we were turning back. Our hearts were too full. One of us sang softly a devotional song of Mirabai, another boy sang — 'O my moonlight' ('O Amar Chander Alo') — a song of Rabindranath. When once again our boat touched shore, we had a profound sense of fulfillment. It was as if the bridal of earth and sky.

All river trips are delightful. But a trip by moonlight is an unforgettable experience. This is what I felt during that all-too-brief trip by moonlight on the Ganga at Banaras.

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Paragraph on the necessity for environmental viability of a city

Cities are seen to be thriving on exploiting the environment. If this trend, is given a free run when cities will be confronted with unsurmountable environmental problems. Ultimately the now overcrowded cities will be turned to desert lands. In this context the environmental viability of a city assumes very great significance. In order to ensure environmental viability a city "has to address itself to the various problems confronting it. A city prospers on exploiting natural resources. Natural resources are not inexhaustible. It is therefore essential that, for its survival, a city has to develop a rational approach in its exploitation of natural resources for economic growth. It should give priority to waste management, prevention of environment pollution, making provision for sanitation and health care etc. The necessity for environmental viability of a city can never be exaggerated.

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Paragraph on the Merits of Indian Civilization

The Indian civilization is a role model for the other civilizations of the world. The materialistic civilization of the West is borne down by its own ills, its apotheosis of power and wealth. In spite of its splendor it is all vain. Indian civilization has its moorings in its philosophy, in spirituality, in ethics, in its religion. It is based on the realization of the superiorly of the spirit to the body, the spiritual world to the phenomenal world. The Indians have always held on to God, to the Infinite. This has given it continuity. Other great world civilizations like the Babylonian civilization, the Egyptian civilization, the Roman civilization, and the Greek civilizations have come and gone. The Indus-Valley or Mohenjodar-Harappan or the Indian civilization still lives, in spite of hundreds of years of persecution.

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The Struggle of Peasants in the Colonial India

The economic policy instituted by the British Government created discontentment among the peasants of India. Further, the Indian zamindars and money­lenders exploited illiterate peasant mass. After the permanent settlement of 1793, the absentee landlords, the intermediaries and the village money-lenders and the oppression of the Europeans reduced the Indian peasants into beggary. The growing oppression was not simply swallowed by the peasants but they raised voice against it.

The Santhal rebellion, 1855-56:

The Santals of Hazaribagh, Midnapur, Bankura, Birbhum, Manbhum etc. were the worst sufferers due to the permanent settlement. The police and other government officials did not protect their interest; rather exploited them. The Santhals under the leadership of Sidhu and Kanhu raised in 1856 with a view to put an end to colonial rule in India. They disrupted the railway and postal communications between Bhagalpur and Rajmahal.

The British troops became alert and a force under Major Burrough suffered a defeat at the lands of the Santhals. The British took repressive measures, arrested the Santhal leaders and quelled the rebellion. The Rebellion was pacified with the creation of a separate district consisting of the Santhal Parganas.

However, in the great Revolt of 1857, peasants of Oudh and western U.P. participated and fought against the British authority.

Strike of Bengal indigo cultivators 1860:

Bengal projected the first strike in the history of the peasant movement in India. The European planters in Bengal forced the local peasants to resort to indigo cultivation and earned a good deal of profit. The peasants suffered a lot in 1860.

The peasants of the districts of Pabna and Nadia and Barasat sub-division went on strike and refused to cultivate indigo. Soon, the news spread and peasants of Dacca, Malda, Jessore, Khulna, Rajsahi and several other places followed their path.

The British Government was alarmed and issued order to different police stations to take due caution in protecting the peasants from the clutches of indigo planters. In an Act of 1862, it was decided that the planters can go to the court of law. This law freed the peasants from the clutches of the planters who left Bengal and ultimately went to Bihar and U. P.

Peasant uprising in Deccan, 1875:

The payment of Government revenue, fall of the price of cotton and manipulation of bond by the money-lenders in Deccan added plights to the life of the peasants.

In December 1874, a money-lender named Kālu ram obtained decree from the court for evicting Baba Saheb Deshinukh, who failed to pay Rs 150 which he had borrowed from the former. When the money-lender evicted the former, the villagers were infuiiated. The fire of discontent spread in Poona district. The peasants forcibly entered into the house of the money-lenders, burnt their houses and shops and the bond of loans. The government was alarmed and sent police who arrested hundreds of peasants. The government could not take any action against the peasants because there was no evidence to prove it, A Deccan Riots Commission was appointed to investigate the course of such uprising.

The Agriculturists' Relief Act of 1879 was passed which facilitated the peasants in the payment of their loan but under no circumstance. They could be arrested and sent to jail for non payment of loans. Before riots could spread to other parts of the country, the British Government passed Punjab Land Alienation Act, and pacified the discontent of the peasants of Punjab.

Champaran Movement of 1917:

The peasants of Champaran in Bihar started a movement against their planters who had forced them for indigo cultivation. The intervention of .Mahatma Gandhi solved the problem (for details see 'Gandhiji and Champaran Satyagraha of 1917).

Kheda Satyagraha, 1918:

The peasant’s m Kheda in Gujarat in 1917 denied paying revenue to the government in 1918. Gandhiji and other leaders guided them and the government had to bend before them.

The Moplah uprising, 1921-22:

In 1921 the Muslim peasants of the Malabar districts of Kerala known as the Moplahs rose against their landlords, the Namboodris and Nairs. These upper classes exploited the peasants. The Moplahs had no security of their tenure.

The renewal of fees, high rents and other extractions by the zamindars, broke the backbone of the Moplahs. They became united and made armed attacks on the Namboodris, Nair’s and other higher castes. The British Government became active and suppressed them.

The Kishan Sahhas:

Formation of the Kishaii Sabhns during 1922-1928 at different places inside the country protected the interests of the peasants. The Kishan Sabhas at Andhra, Bihar, U.P. Gujarai, Karnataka etc. were organised by the national leaders who came forward to champion the causes of the peasants. The peasants came to the great help at different points of India's struggle for independence. The popular ministries in provinces looked after the problems of the peasants. The Restoration of Bengal Land Act and Bihar Tenancy Act in 1938 were passed in 1938.

Other peasant movements before independence:

Before independence, several peasant movements took place in India. The Tebhaga Movement in Bengal, the Telengana Outbreak in Hyderabad, the revolt of the Varlis, mostly guided by the communist party, were other popular peasant movements in India on the eve of independence. The peasants out and out were the supporters of the Indian National Congress.

The All-India Kisan Congress carried on massive educative propaganda work to bring peasants of the country closer to each other. However, the British Government did not give much importance to the peasants.

The peasant struggle definitely forms a subtle study of Indian history. No doubt, their uprising put pressure on the British Government which devoted at least some time and machinery to solve some of the problems of the peasants and to quell the peasant uprisings wherever it was necessary.

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Essay on the most popular Rivers of India

The rivers of India may be classified into two categories; via: rivers of the north India and south India.

As the rivers of the north India have their sources in the Himalayas, they are perennial, being snow-fed in summer. The major rivers are the Ganga and its tributaries, the Brahmaputra and the Sutlej, Ravi and Beas - the main tributaries of the Indus. The major rivers of south India are the Narmada, the Tapti, the Mahanadi, the Godavari, the Krishna, the Cauvery etc. These rivers have their sources in different mountain ranges of the south India and hence they are not perennial - they dry up in summer.

The Ganga:

The Ganga is the most famous river of India. It is popularly called the Mother Ganga because of its usefulness. Its length is about 2,400 kms. It originates from the glacier called Gadgetry at Gomulka in the Himalayas. It flows in the mountainous bed about 320 kms. With the name "Bhagirathi" and then joins with the river Alakananda at Devaprayag. Thereafter, these two streams combine and bear the name "The Ganga". And flowing for a distance enters into the plains at Hardware.

In this plain stage the tributaries like the Rama Ganga, the Gomati, the Ghaghara, the Gander and the Kisi drain into it from its left bank and from its right bank the Yamuna, the Chambal, the Beta and the Son join with U and it flows towards the east. In the lower reach it joins with the Brahmaputra at Goaled and with the name river Padma falls into the Bay of Bengal. Since the water of the Ganga has been very much polluted, efforts are now being made to clean and purify it.

The Yamuna:

It is the principal tributary of the Ganga. It originates from the glacier named Yamunotri and flows parallel with the Ganga for a long distance and joins with it at Allahabad. The confluence of the Ganga and Yamuna is known as "the Prayag". It is a famous place of pilgrimage. In ancient days the river Saraswati joined at this con­fluence and therefore, it has been named as "Traven", that is, confluence of three rivers.

The Brahmaputra:

It is another important river of India. Its length is about 2,880 kms. It originates from a glacier cuff Mount Kailas near the lake Manasarovar, and with the name Tango it flows through Tibet about 1100 kms from west to east. Thereafter, it cuts through the Himalayas at Niche Bara of Arunachal Pradesh and enters into India. Then it flows through Assam from east to west and after crossing the Meghalaya Plateau, flows' round Agro Hills and takes southward course. It joins with the Ganga at Goaled and falls into the Bay of Bengal at the Meghan mouth. After the confluence -of these two mighty rivers an extensive delta has been formed.

The Mahanadi:

It is the largest river of Orissa with a length of about 858 kms. It originates in the Amarkantak Plateau of Madhya Pradesh and enters into Orissa in the district of Jabalpur. It falls into the Bay of Bengal at False Point. Paradeep Port is situated on the mouth of this river.

The Godavari:

It is the' largest river of the south India with a length of about 1440 kms. It origi­nates from the region of Nasik of the Western Ghats. It takes an eastward course and drains into the Bay of Bengal. Its delta begins from Rajmahendri. The Indrāvati and Yen Ganga are its two major tributar­ies.

The Krishna:

It originates from the region of Mahabaleswar of the Western Ghats and after flowing about 1280 kms. Towards east, drains into the Bay of Bengal. The Tungabhadra and the Bhīma are its main tributaries. Its delta begins from the city of Vijayawada.

The Cauvery (Knavery):

It originates from the mountainous region of Coorg, flows about 280 kms and falls into the Bay of Bengal. There is a waterfall with a height of 98 meters in its course, near Sivasarnudram. This river is called "The Ganga of the south India."

The Narmada and Tapti are the principal west flowing rivers of India. The Narmada rises in the Amarkantak Plateau and flows westward through the rift valley between the Vindhya and the Sapura ranges, and then falls into the Bay of Cambay. The Dhuandhar Waterfalls are created while this river emirs into the plain stage from its mountain stage.

The river Tapti rises in the region near the Manado Hills, flows westward in the south of the Sapura range for about a distance of 720 kms and drains into the Bay of Cambay. It also flows through the rift valley of the Sapura range.

A number of small but torrential and water­fall-studded rivers rise from the western side of the Western Ghats and drain into the Arabian Sea. The Surakarta and Prewar are such important rivers. The Jog Waterfalls of the Pārbati River is the highest waterfall of India with a height of 243 meters.

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