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प्रश्न
Define monopoly.
Define monopoly market.
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उत्तर
A monopoly is a market situation in which a single firm sells a commodity, and there is no close substitute for the commodity the monopolist sells.
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संबंधित प्रश्न
Identify the market having a single buyer and many sellers from the following:
Non-price competition is ______.
“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 Railways is an example of ______.
Match the following and select the correct option:
| Column I | Column II | ||
| (i) | Perfect competition | (A) | Differentiated Products |
| (ii) | Monopoly | (B) | Few large firms |
| (iii) | Monopolistic Competition | (C) | Single seller |
| (iv) | Oligopoly | (D) | Homogeneous products |
There is no difference between perfect competition and pure competition.
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 : ______
Imperfect knowledge is a characteristic feature of:
Which one of the following is NOT found in a perfectly competition market?
Match the following:
| Column I | Column II | ||
| A. | Monopoly | (i) | Availability of close substitutes |
| B. | Oligopoly | (ii) | Absence of close substitutes |
| C. | Perfect competition | (iii) | Few large sellers |
| D. | Monopolistic competition | (iv) | Homogeneous products |
Give three points of difference between perfect competition and monopoly.
Define oligopoly.
Define monopsony.
Give two characteristics of perfect competition.
Identify the market form of the following:
The Government of India is the sole buyer of fighter aircrafts.
State the market form of the following commodity.
Automobiles
State the market form of the following commodity.
Fighter Aircrafts
Identify the market form for the item given below:
A single seller
In which form of market do producers and consumers have perfect knowledge about the market conditions?
Explain any four features of perfect competition.
Which type of market structure is the following? Give reason.
Scooters
Which type of market structure is the following? Give reason.
Mobile phone services
Which type of market structure is the following? Give reason.
Jeans
Which type of market structure is the following? Give reason.
Lipstick
Which type of market structure is the following? Give reason.
Soft drinks
Product differentiation is practised in monopolistic competition? Give reasons.
To which market is price discrimination relevant?
To which market form are homogeneous products relevant?
Which market form has the least number of producers?
What is the difference between perfect and imperfect oligopoly?
What does perfectly elastic demand curve faced by a competitive firm indicate?
Identify the market form from the following.
Firm is a price maker.
Identify the market form from the following.
Perfect knowledge
Name the characteristic which makes monopolistic competition different from perfect competition.
Why an individual firm under perfect competition cannot influence the market price?
In which market form is there a single seller and no close substitutes for the product?
