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प्रश्न
Define oligopoly.
Define the concept of Oligopoly.
Define Oligopoly in your own words.
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उत्तर
An oligopoly is a market structure in which there are only a few big sellers.
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संबंधित प्रश्न
Discuss any two features of a monopolistically competitive market.
Define Discriminating Monopoly.
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
Non-price competition is ______.
Explain three features of Perfect competitive market.
Selling costs are absent in perfect competition market.
“While shopping for fruits in the local market you see many seller selling fruits”. In this context answer the following:
- What is the type of market referred to?
- State and draw the type of demand curve faced by the market above.
- Differentiate between the market indicated above and monopoly on the basis of:
- No. of sellers
- Market price
- Entry and exit of firms in the market
Following is the feature of perfect competition:
'Homogeneous products' is a characteristic of ______.
'A few big sellers' is a characteristic of ______.
Marginal revenue of a firm is constant throughout under:
A seller cannot influence the market price under:
A monopolist is price maker:
Indian Oil Corporation Limited is an example of a/an ______.
There is no difference between perfect competition and pure competition.
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.
Observe the relationship of the first pair of words and complete the second pair.
Single seller in the market : Monopoly
Single buyer in the market : ______
Which of the following statements are true?
- Monopolistically competitive markets have high selling costs.
- Monopolistically competitive markets sell homogeneous goods.
- Any firm can start a business in a monopolistically competitive market.
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.
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?
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
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 |
Match the following:
| Column I | Column II | ||
| A. | Demand curve under perfect competition | (i) | Indeterminate demand curve |
| B. | Demand curve under monopoly | (ii) | Downward sloping but less elastic |
| C. | Demand curve under monopolistic competition | (iii) | Horizontal straight line |
| D. | Demand curve under oligopoly | (iv) | Elastic demand curve |
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.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker under perfect competition.
Define perfect competition.
Mention two features of monopoly.
Producers in a monopoly are price makers. Briefly explain.
Give an example of monopsony.
Define product differentiation.
What are selling costs?
Why is there no need for selling cost under perfect competition?
In which form of market is the seller a price taker? Justify your answer.
Identify the market form of the following:
Market for toilet soaps in India.
State the market form of the following commodity.
Automobiles
State the market form of the following commodity.
Fighter Aircrafts
Identify the market form for the item given below:
A single seller
Identify the market form for the item given below:
Product differentiation
Identify the market form for the item given below:
A single buyer
Name the market in which there is a single buyer and many sellers.
Define monopoly.
Explain the main characteristics of a monopoly.
Which type of market structure is the following? Give reason.
Trucks
Which type of market structure is the following? Give reason.
Scooters
Which type of market structure is the following? Give reason.
Mobile phone services
Which type of market structure is the following? Give reason.
Soft drinks
To which market is price discrimination relevant?
Give two examples of a monopolistically competitive market.
Why can a monopolist charge different prices in different markets?
To which market form are homogeneous products relevant?
What is meant by the term ‘price taker’?
What is meant by barriers to entry?
What is the difference between collusive and non-collusive oligopoly?
Name the market which has characteristics both of monopoly and perfect competition.
In what respects does oligopoly differ from monopoly?
Identify the market form from the following.
Perfect knowledge
Identify the market form from the following:
A few large sellers
There is inverse relation between price and demand for the product of a firm under ______.
There are a large number of buyers and sellers under a ______ market.
Mention one feature of a monopoly market.
What is a price making firm?
Why an individual firm under perfect competition cannot influence the market price?
Why are selling costs incurred?
Which of the following is an example of a perfectly competitive market?
In which market form is there a single seller and no close substitutes for the product?
In which type of market are firms interdependent and a few large firms dominate?
Which statement correctly describes monopsony?
