Prof. Ganapathy S., HOD of Economics of St. Philomena College was the resource person. In his presentation he said, “In a market economy pricing is basically conditioned by the market structure. There are many different market structures. Perfect competition is a theoretical concept rather than an actual market reality. To some extent, the perfect competition model fits into the market for farm products like rice, wheat etc., when all the units of each commodity is identical. In fact, in present –day economies, the competitive market is becoming less and less realistic even in agricultural products.”
Rev Dr Antony Prakash Monteiro, Chairperson of P.G. studies & Research Centre of the College was the president of the function. In his presidential address he said, “If information about the market conditions, especially regarding the price, quantities and alternatives to the goods are prevailing, the consumers can maximize their welfare.”
Dr Prabhakara Shishila gave an introduction about the programme. Prof. Sandhya Intoduced the resource person.
Ms. Lavina welcomed the gathering. Mr. Bharath proposed the vote of thanks. Prof. Pradeep K. S. compered the programme.