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प्रश्न
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 : ______
विकल्प
Duopoly
Monopolistic
Monopsony
None of these
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उत्तर
Single seller in the market : Monopoly
Single buyer in the market : Monopsony
Explanation:
A monopsony is characterised by a single buyer in the market, comparable to a monopoly involving a single seller. Due to a lack of competition from other purchasers, the monopsony buyer has great power over the purchase price and terms.
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संबंधित प्रश्न
Non-price competition is ______.
Justify the following statement with any two valid arguments. 'In a perfect competition market structure, an individual firm does not have any role in determining price’.
“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
"The price of a product under perfect competition is determined by an individual seller."
What is meant by pure competition?
State two important characteristics of monopoly.
What do you mean by homogeneous products?
What induces new firms to enter an industry?
What is the effect on price when a monopoly firm tries to sell more?
In what respects does oligopoly differ from monopoly?
