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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.
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.
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.
Define perfect competition.
State two important characteristics of monopoly.
Identify the market form of the following:
Motor car market in India.
Give an example of price discrimination.
What does perfectly elastic demand curve faced by a competitive firm indicate?
Why do producers incur high selling costs in an imperfect market?
Which statement correctly describes monopsony?
