Advertisements
Advertisements
प्रश्न
In what respects does oligopoly differ from monopoly?
State any two differences between oligopoly and monopoly market.
Advertisements
उत्तर
| Sr. No. | Basis | Oligopoly | Monopoly |
| 1. | No. of sellers: | There are few large sellers producing a commodity. | There is only a single seller in the market. |
| 2. | Entry of new firms: | Entry of new firms is difficult. | Entry of new firms is restricted. |
| 3. | Demand curve: | The demand curve is indeterminate. | The demand curve faced by a monopoly firm is less elastic. |
| 4. | Product Differentiation: | Products may be identical (e.g., cement) or differentiated (e.g., cars). | The product has no close substitutes. |
APPEARS IN
संबंधित प्रश्न
Define Discriminating Monopoly.
In which type of market price discrimination is practiced? Explain with an example.
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.
"The price of a product under perfect competition is determined by an individual seller."
Which of these feature's is found in both a perfectly competitive market and a monopolistically competitive market?
Which among the following is a feature of monopsony market?
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.
Imperfect knowledge is a characteristic feature of:
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 |
Which of the following is the least competitive 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 |
Define perfect competition.
Define monopsony.
Why is there no need for selling cost under perfect competition?
In which form of market is the seller a price taker? Justify your answer.
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
Identify the market form for the item given below:
A single buyer
Name the market in which there is a single buyer and many sellers. Give an example.
Discuss any four differences between monopoly and monopolistic competition.
Which type of market structure is the following? Give reason.
Soft drinks
Give two examples of a monopolistically competitive market.
What do you mean by homogeneous products?
What is meant by the term ‘price taker’?
What is the effect on price when a perfectly competitive firm tries to sell more?
Name the market which has characteristics both of monopoly and perfect competition.
Identify the market form from the following.
Firm is a price maker.
Identify the market form from the following.
Perfect knowledge
There are a large number of buyers and sellers under a ______ market.
Which feature best distinguishes monopolistic competition from perfect competition?
In which type of market are firms interdependent and a few large firms dominate?
Which statement correctly describes monopsony?
