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प्रश्न
Mention one feature of a monopoly market.
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उत्तर
- Single seller and large number of buyers:
- Under monopoly, there is only one seller, firm or manufacturer of a commodity. The product sold by the monopolist may or may not be homogenous. The existence of a single seller of one product eliminates the difference between the firm and the industry.
- There can be any number of buyers under monopoly.
- No Close Substitutes: A second feature of monopoly is that there are no close substitutes available for the product sold by the monopolist. A pure monopoly exists only when there is no close substitute for the product sold by the monopolist.
संबंधित प्रश्न
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
Justify the following statement with any two valid arguments. 'In a perfect competition market structure, an individual firm does not have any role in determining price’.
A seller cannot influence the market price under:
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | (A) | Oligopoly |
| (ii) | Less elastic demand | (B) | Monopolistic competition |
| (iii) | More elastic demand | (C) | Perfect competition |
| (iv) | Indeterminate demand | (D) | Monopoly |
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 : ______
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Buyers are ready to pay different prices for the product produced by different firms under perfect competition.
Reason (R): The products offered for sale in the perfect market are homogeneous.
Give two characteristics of perfect competition.
Identify the market form of the following:
Goods sold are homogeneous.
Identify the market form for the following:
Railways in India.
Identify the market form for the item given below:
Homogeneous goods
Identify the market form for the item given below:
Product differentiation
In which form of market do producers and consumers have perfect knowledge about the market conditions?
Product differentiation is practised in monopolistic competition? Give reasons.
What induces new firms to enter an industry?
Elaborate the price discrimination feature of monopoly.
Name the characteristic which makes monopolistic competition different from perfect competition.
In which market form is there a single seller and no close substitutes for the product?
