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प्रश्न
Give two examples of a monopolistically competitive market.
Give an example of monopolistic competition.
Give two examples of monopolistically competitive market structure.
Give two examples of monopolistic markets in India.
Give two examples of monopolistic competition.
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उत्तर
- One well-known example of monopolistic competition is the restaurant business. To set themselves apart from other restaurants, each restaurant provides a unique eating experience, food, atmosphere, and level of service.
- Another example is the clothing sector. Clothes from different brands serve the same basic purpose but differ in terms of price, design, brand reputation, and quality. Because of the uniqueness of its products, every brand has some degree of control over its price.
Notes
Students should refer to the answer according to their question.
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संबंधित प्रश्न
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
What is the shape of the demand curve faced by any monopoly firm? Support your answer with a diagram.
Following is not the feature of perfect competition:
There is no difference between perfect competition and pure competition.
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.
Pick the option which does not belong to the group.
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.
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
Identify the market form for seller A on the basis of the following information:
| Units of output sold | Price offered by seller A in ₹ |
| 30 | 10 |
| 40 | 10 |
| 50 | 10 |
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
Define perfect competition.
Producers in a monopoly are price makers. Briefly explain.
Define monopolistic competition.
Give an example of oligopoly.
Define monopsony.
State the advantage of monopolistic competition over 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.
State the market form of the following commodity.
Railways
Identify the market form for the item given below:
A single seller
Identify the market form for the item given below:
Homogeneous goods
Give an example of price discrimination.
Discuss any four differences between monopoly and monopolistic competition.
Which type of market structure is the following? Give reason.
Scooters
Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.
What is meant by the term ‘price taker’?
What is meant by barriers to entry?
Identify the market form from the following.
Firm is a price maker.
Identify the market form from the following:
A few large sellers
Why do producers incur high selling costs in an imperfect market?
Name the characteristic which makes monopolistic competition different from perfect competition.
Which of the following is an example of a perfectly competitive market?
Which statement correctly describes monopsony?
