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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.
APPEARS IN
संबंधित प्रश्न
Define Discriminating Monopoly.
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
The image above shows a departmental store of a market structure.
- Identify the form of market as observed from the above image.
- Discuss the features of this market form with respect to:
- Type of product
- Entry and exit of firms
- Selling cost
Firm A hires the services of Rohit Sharma to act as the Brand ambassador for its products X. Identify the nature of market for commodity X.
Indian Railways is an example of ______.
"The price of a product under perfect competition is determined by an individual seller."
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 : ______
Which among the following is a feature of monopsony market?
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
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 one of the following is NOT found in a perfectly competition market?
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:
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 |
Read the following statements carefully and choose the correct alternative:
Assertion (A): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker under perfect competition.
Define perfect competition.
What is meant by pure competition?
There are no substitute goods in a monopoly market. Give a reason to support your answer.
Give three points of difference between perfect competition and monopoly.
Give an example of oligopoly.
To which market is product differentiation relevant?
State the market form of the following commodity.
Railways
State the market form of the following commodity.
Automobiles
Identify the market form for the item given below:
A single seller
Identify the market form for the item given below:
Product differentiation
Identify the market form for the item given below:
A single buyer
Explain any four features of perfect competition.
Which type of market structure is the following? Give reason.
Mobile phone services
Which type of market structure is the following? Give reason.
Ball-pen
To which market is price discrimination relevant?
What induces new firms to enter an industry?
What is the effect on price when a perfectly competitive firm tries to sell more?
What is the difference between perfect and imperfect oligopoly?
Identify the market form from the following:
A few large sellers
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.
