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प्रश्न
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
पर्याय
Monopoly market
Perfectly competitive market
Monopolistically competitive market
Monopsony market
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उत्तर
Monopoly market
Explanation:
In a monopoly market, there is only one producer of a commodity and no close substitutes. A monopoly occurs when a single corporation controls the market and has vast control over the product's pricing and supply.
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संबंधित प्रश्न
Discuss any two features of a monopolistically competitive market.
“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
In monopolistic competition, there are ______.
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 |
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 |
Define monopolistic competition.
Give two characteristics of perfect competition.
Identify the market form of the following:
Motor car market in India.
What do you mean by homogeneous products?
