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प्रश्न
Define monopoly.
Define monopoly market.
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उत्तर
A monopoly is a market situation in which a single firm sells a commodity, and there is no close substitute for the commodity the monopolist sells.
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संबंधित प्रश्न
Firm A hires the services of Rohit Sharma to act as the Brand ambassador for its products X. Identify the nature of market for commodity X.
'Homogeneous products' is a characteristic of ______.
Marginal revenue of a firm is constant throughout under:
Match the following and select the correct option:
| Column I | Column II | ||
| (i) | Perfect competition | (A) | Differentiated Products |
| (ii) | Monopoly | (B) | Few large firms |
| (iii) | Monopolistic Competition | (C) | Single seller |
| (iv) | Oligopoly | (D) | Homogeneous products |
Pick the option which does not belong to the group.
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
Read the given statements carefully and select the correct option.
- The number of sellers under oligopoly are small.
- In monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions.
Which one of the following is NOT found in a perfectly competition market?
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
Which of the following is the least competitive market?
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 |
Define perfect competition.
What is meant by pure competition?
Give an example of monopsony.
To which market is product differentiation relevant?
In which form of market is the seller a price taker? Justify your answer.
Identify the market form of the following:
The Government of India is the sole buyer of fighter aircrafts.
Identify the market form of the following:
Motor car market in India.
Identify the market form for the following:
Railways in India.
Identify the market form for the following:
Textile industry in India.
Identify the market form for the following:
Telecom industry in India.
Identify the market form for the item given below:
A single seller
Identify the market form for the item given below:
A single buyer
Give an example of price discrimination.
Explain the main characteristics of a monopoly.
Which type of market structure is the following? Give reason.
Scooters
Which type of market structure is the following? Give reason.
Jeans
Product differentiation is practised in monopolistic competition? Give reasons.
To which market is price discrimination relevant?
To which market form are homogeneous products relevant?
Identify the market form from the following.
Firm is a price maker.
Why do producers incur high selling costs in an imperfect market?
What is a price making firm?
Why an individual firm under perfect competition cannot influence the market price?
Which statement correctly describes monopsony?
