Advertisements
Advertisements
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
Advertisements
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.
APPEARS IN
संबंधित प्रश्न
Following is not the feature of perfect competition:
Indian Oil Corporation Limited is an example of a/an ______.
The seller in a monopoly market is a price maker.
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.
State the market form of the following commodity.
Automobiles
Which type of market structure is the following? Give reason.
Mobile phone services
What is the difference between perfect and imperfect oligopoly?
Elaborate the price discrimination feature of monopoly.
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.
