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प्रश्न
Answer the following question.
Discuss briefly the meaning of "Price discrimination" and "Product differentiation" with the help of suitable examples.
उत्तर
Price Discrimination -
Price discrimination implies charging different prices for the same product from different buyers at the same time. A monopolist firm enjoys the freedom to follow price discrimination. That is, in other words, it can sell the same product to different buyers at different prices at different time periods. For example, a monopolist charge the maximum price that each buyer is willing to pay.
Product Differentiation -
Differentiated Products imply that the products are similar to each other and perform the same basic function yet are different from each other in some or the other manner. The products are hypothetically differentiated from each other by the producers through advertisements. Take the example of shampoos.
Although the basic function of a shampoo is to clean the scalp but the producers try to differentiate their respective brands by highlighting some unique features such as anti-dandruff, anti-hair fall, protein-rich shampoos, hair root-strengtheners, etc.
APPEARS IN
संबंधित प्रश्न
Resource allocation
Meaning and Definition of Market?
Define or explain the following concepts:
Pure competition
Write short notes on Price determination under perfect competition.
Explain any two features of monopoly market.
Write short answer for the following question :
Features of Pure Competition.
State whether the following statements are ‘True’ or ‘False’.
There is no need of advertisement in monopolistic competition.
Distinguish between Any FOUR of the following :
Natural monopoly and Legal monopoly.
State Whether the following statements are TRUE or FALSE:
There is no price discrimination in the monopolistic competition.
Define or explain the following concept:
Market
Explain the concept of market.
Study the following passage and answer the questions:
| A trademark is a recognisable phrase, word, or symbol that denotes a specific product and legally differentiates it from all other products of its kind. Registering a trademark prevents others from using it so that consumers are not confused about the product. Trademarks add value and recognition to a company. Therefore, a company with well-established trademarks and brands in its portfolio enjoy a good reputation in the market. It also makes it easy to raise money from the stock market or borrow from lenders. |
Questions:
- Explain the meaning of trademark in your own words.
- What benefits does the seller/company enjoy by registering its trademark?
