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प्रश्न
A holiday resort in a remote village is very popular among the tourists. Since the connectivity is very poor with the outer world, the owner employs the local villagers for the functioning of the resort.
This is a case of:
पर्याय
Perfect competition
Monopoly
Monospony
Monopolistic competition
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उत्तर
Monospony
Explanation:
This is an example of a monopsony, where there is only one buyer of labour (the resort owner) and numerous sellers of labour (local people). Because the people have few other employment options, the resort owner holds considerable authority over wages and working conditions.
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संबंधित प्रश्न
Which two forms of market earn normal profit in the long run?
The seller in a monopoly market is a price maker.
Which one of the following is NOT found in a perfectly competition market?
Read the following statements carefully and choose the correct alternative:
Assertion (A): Price discrimination is possible under monopoly.
Reason (R): A monopolist can charge different prices in different markets because different sets of consumers - rich and poor - have different price elasticity of demand for the monopolist's product.
Define perfect competition.
State two important characteristics of monopoly.
In which form of market is the seller a price taker? Justify your answer.
Identify the market form for the following:
Textile industry in India.
Identify the market form for the following:
Perfectly elastic demand.
What is the difference between perfect and imperfect oligopoly?
