Product differentiation
Multiplicity of prices for identical products at any one time
Many sellers and a few buyers
Only one price for identical goods at any one time
the absence of the black-market
the presence of black-market
increase in prices
fall in production
the taxes earned by the state
the sum of all factor incomes
personal incomes of all the citizens
surplus of exports over imports
Adam Smith
J.M. Keynes
Alfred Marshall
David Ricardo
B. S. Minhas
P.K.Bardhan
V. M. Dandekar and N. Rath
Raj Krishna