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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
Differentiated products is a characteristic of ______.
'A few big sellers' is a characteristic of ______.
Read the given statements carefully and select the correct option.
- The number of sellers under oligopoly are small.
- In monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions.
Which of the following market types has the fewest number of firms?
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
Identify the market form of the following:
Goods sold are homogeneous.
Define monopoly.
What is meant by barriers to entry?
In what respects does oligopoly differ from monopoly?
Why an individual firm under perfect competition cannot influence the market price?
