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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
Non-price competition is ______.
How is Perfect competitive market is different from a monopoly market?
Which among the following is a feature of monopsony market?
Read the following statements carefully and choose the correct alternative:
Assertion (A): Buyers are ready to pay different prices for the product produced by different firms under perfect competition.
Reason (R): The products offered for sale in the perfect market are homogeneous.
State the advantage of monopolistic competition over monopoly.
In which form of market do producers and consumers have perfect knowledge about the market conditions?
Name the market in which there is a single buyer and many sellers. Give an example.
Give an example of price discrimination.
Which type of market structure is the following? Give reason.
Lipstick
Name the market which has characteristics both of monopoly and perfect competition.
