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प्रश्न
A holiday resort in a remote village is very popular among the tourists. Since the connectivity is very poor with the outer world, the owner employs the local villagers for the functioning of the resort.
This is a case of:
विकल्प
Perfect competition
Monopoly
Monospony
Monopolistic competition
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उत्तर
Monospony
Explanation:
This is an example of a monopsony, where there is only one buyer of labour (the resort owner) and numerous sellers of labour (local people). Because the people have few other employment options, the resort owner holds considerable authority over wages and working conditions.
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संबंधित प्रश्न
The seller in a monopoly market is a price maker.
Identify the market form for seller A on the basis of the following information:
| Units of output sold | Price offered by seller A in ₹ |
| 30 | 10 |
| 40 | 10 |
| 50 | 10 |
Which one of the following is NOT found in a perfectly competition market?
Give an example of oligopoly.
Define monopsony.
Define product differentiation.
State the advantage of monopolistic competition over monopoly.
Identify the market form for the following:
Railways in India.
Product differentiation is practised in monopolistic competition? Give reasons.
There is inverse relation between price and demand for the product of a firm under ______.
