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प्रश्न
How is Perfect competitive market is different from a monopoly market?
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उत्तर
Perfect competitive market is different from a monopoly market on the basis of following points:
- In a perfectly competitive market, sellers do not have control over the price. However, in a monopoly, the seller has complete control over the price.
- In a perfect competitive market, there are close substitutes, while in a monopoly, there are no available alternatives.
- In a competitive market, price is influenced by the interplay of demand and supply forces. However, in a monopoly, the seller has the power to determine the price. In a perfect competitive market, there are no barriers to entry.
- In monopoly, there exists a significant barrier to entry. There may be various barriers, such as patents or government regulations, that could potentially hinder progress.
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संबंधित प्रश्न
The image above shows a departmental store of a market structure.
- Identify the form of market as observed from the above image.
- Discuss the features of this market form with respect to:
- Type of product
- Entry and exit of firms
- Selling cost
Following is not the feature of perfect competition:
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 : ______
State two important characteristics of monopoly.
Identify the market form for the item given below:
A single seller
Define monopoly.
Why can a monopolist charge different prices in different markets?
What is the effect on price when a monopoly firm tries to sell more?
Identify the market form from the following.
Firm is a price maker.
What is a price making firm?
