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प्रश्न
Name the market in which there is a single buyer and many sellers. Give an example.
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उत्तर
A market in which there is a single buyer and many sellers is called a monopsony. A classic example of this structure is the government's purchasing of military equipment, such as fighter jets and tanks. In this scenario, the national government serves as the sole legal buyer in the country, while various private military contractors and aerospace corporations compete as sellers for the government’s purchasing contract.
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संबंधित प्रश्न
Which two forms of market earn normal profit in the long run?
“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
Indian Oil Corporation Limited is an example of a/an ______.
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | (A) | Oligopoly |
| (ii) | Less elastic demand | (B) | Monopolistic competition |
| (iii) | More elastic demand | (C) | Perfect competition |
| (iv) | Indeterminate demand | (D) | Monopoly |
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
There are no substitute goods in a monopoly market. Give a reason to support your answer.
State the advantage of monopolistic competition over monopoly.
State the market form of the following commodity.
Railways
What is a price making firm?
