Advertisements
Advertisements
Question
Which type of market structure is the following? Give reason.
Scooters
Advertisements
Solution
The market structure for scooters is oligopoly.
Reason:
- The scooter market is dominated by a few major players, including Honda, Yamaha, TVS, and Vespa, which control an important part of the market.
- These companies provide differentiated products with distinguishing characteristics such as fuel efficiency, engine power, and design.
- While they have some price power, they must also consider their competitors' pricing and strategies, as usual in an oligopoly market.
APPEARS IN
RELATED QUESTIONS
A seller cannot influence the market price under:
Read the given statements carefully and select the correct option.
- The number of sellers under oligopoly are small.
- In monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions.
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
Identify the market form of the following:
Motor car market in India.
Identify the market form for the item given below:
A single seller
Give an example of price discrimination.
Which type of market structure is the following? Give reason.
Trucks
Which type of market structure is the following? Give reason.
Jeans
With the help of an example explain the meaning of price discrimination.
Identify the market form from the following:
A few large sellers
