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प्रश्न
Indian Oil Corporation Limited is an example of a/an ______.
विकल्प
Competitive firm
Monopoly firm
Monopolistically competitive firm
Oligopolistic firm
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उत्तर
Indian Oil Corporation Limited is an example of a/an Oligopolistic firm.
Explanation:
Indian Oil Corporation Limited (IOCL) is an example of an oligopolistic company because it works in an oligopolistic market structure. In India's oil and gas business, a few large firms, such as IOCL, Bharat Petroleum, and Hindustan Petroleum, dominate the market, exerting strong control over pricing and output, as is typical of an oligopoly.
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संबंधित प्रश्न
'A few big sellers' is a characteristic of ______.
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.
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 two important characteristics of monopoly.
State the market form of the following commodity.
Shampoos
What do you mean by homogeneous products?
What is meant by barriers to entry?
There is inverse relation between price and demand for the product of a firm under ______.
Name the characteristic which makes monopolistic competition different from perfect competition.
Which statement correctly describes monopsony?
