Advertisements
Advertisements
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
Advertisements
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.
APPEARS IN
संबंधित प्रश्न
What is the shape of the demand curve faced by any monopoly firm? Support your answer with a diagram.
'Homogeneous products' is a characteristic of ______.
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
Producers in a monopoly are price makers. Briefly explain.
What are selling costs?
Which type of market structure is the following? Give reason.
Scooters
Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.
What is meant by the term ‘price taker’?
Identify the market form from the following.
Firm is a price maker.
There are a large number of buyers and sellers under a ______ market.
