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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
Following is the feature of perfect competition:
A seller cannot influence the market price under:
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
Match the following:
| Column I | Column II | ||
| A. | Monopoly | (i) | Availability of close substitutes |
| B. | Oligopoly | (ii) | Absence of close substitutes |
| C. | Perfect competition | (iii) | Few large sellers |
| D. | Monopolistic competition | (iv) | Homogeneous products |
State the market form of the following commodity.
Railways
State the market form of the following commodity.
Fighter Aircrafts
Give an example of price discrimination.
Explain any four features of perfect competition.
What is the difference between perfect and imperfect oligopoly?
Elaborate the price discrimination feature of monopoly.
