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प्रश्न
Explain the implications of the following in an oligopoly market: A few or a few big sellers
उत्तर
Only few number of firms in the industry but they are big firms dominate the market for product. They establish brand loyalty through intense advertising. Hence, they are able to earn extra-normal profit.
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संबंधित प्रश्न
Homogenous product’ is a characteristic of : (choose the correct alternative)
(a) Perfect competition only
(b) Perfect oligopoly only
(c) Both (a) and (b)
(d) None of the above
Explain the implications of the following in a perfectly competitive market:
Large number of buyers
Explain the implications of the following in an oligopoly market:
Inter- dependence between firms
Giving reason, state whether the following statement is true or false.
A Monopolist can sell any quantity he likes at a price.
‘A few big sellers’ is a characteristics of : (choose the correct alternative)
a. Perfect competition
b. Monopolistic competition
c. Oligopoly
d. None of the above
Distinguish between perfect oligopoly and imperfect oligopoly. Also, explain the interdependence between the firms' feature of oligopoly.
Define monopoly.
What can you say about the number of buyers and sellers under monopolistic competition?
State whether the following statement is true or false.
There is no product differentiation under monopolistic competition.
Distinguish between :
Output method and Expenditure method.
Answer the following question
What are the features of monopolistic competition?
State with reason whether you agree or disagree with the following statement
Perfect Competition means Monopolistic Competition.
Write short note on the following:
Features of pure competition
Define or explain the following concept:
Selling cost
Give reason or explain:
Selling cost is incurred by a firm in Monopolistic competition.
Match the following:
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Group A
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Group B
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Monopoly
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Public monopoly
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Product differentiation
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Abnormal profit
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Railway
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Monopolistic Competition
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Perfect Competition
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Prof. Chamberlin
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Pure Competition
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Homogenous product
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Cartel
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Selling cost
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Fill in the blank with appropriate alternative given below
Under perfect competition commodities are ________________ in nature.
Find the odd word
Selling cost -
PASSAGE
In India, markets for automobiles, cement, steel, aluminium, etc, are the examples of oligopolistic market. In all these markets, there are few firms for each particular product. Duopoly is a special case of oligopoly, in which there are exactly two sellers. Under duopoly, it is assumed that the product sold by the two firms is homogeneous and there is no substitute for it. Examples where two companies control a large proportion of a market are: (i) Pepsi and Coca-Cola in the soft drink market; (ii) Airbus and Boeing in the commercial large jet aircraft market.
Operating systems for smart phones and computers provide excellent examples of oligopolies in big tech. Apple iOS and Google Android dominate smart phone operating systems. Computer operating systems are overshadowed by Apple and Microsoft Windows.
- Give examples of oligopolistic market in India (1 mark)
- Explain the concept of duopoly with a suitable example from the passage (1 mark)
- Express your personal opinion based on the above information (2 marks)
