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Identify the market form of the following: Market for toilet soaps in India. - Economic Applications

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Questions

Identify the market form of the following:

Market for toilet soaps in India.

Which type of market structure is the following? Give reason.

Toilet soap

Answer in Brief
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Solution

The market for toilet soaps in India represents monopolistic competition.

Reason:

  1. Lux, Dove, Pears, Nivea, Lifebuoy, and more merchants compete in the Indian toilet soap industry, offering various goods. While the core product (toilet soap) serves the same purpose, manufacturers differentiate their soaps through packaging, smell, quality, and marketing tactics.
  2. This product differentiation, along with a large number of suppliers, is characteristic of monopolistic competition. 
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Chapter 5: Nature and Structure of Markets - QUESTIONS [Page 139]

APPEARS IN

Goyal Brothers Prakashan Economic Applications [English] Class 10 ICSE
Chapter 5 Nature and Structure of Markets
QUESTIONS | Q 6. (c) | Page 139
Goyal Brothers Prakashan Economic Applications [English] Class 10 ICSE
Chapter 5 Nature and Structure of Markets
QUESTIONS | Q 20. (iv) | Page 138
Goyal Brothers Prakashan Economics [English] Class 10 ICSE
Chapter 5 Meaning and Types of Markets
Exercise | Q 19. (iv) | Page 116
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