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प्रश्न
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
उत्तर
The market for toilet soaps in India represents monopolistic competition.
Reason:
- 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.
- This product differentiation, along with a large number of suppliers, is characteristic of monopolistic competition.
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संबंधित प्रश्न
Explain three features of Perfect competitive market.
Justify the following statement with any two valid arguments. 'In a perfect competition market structure, an individual firm does not have any role in determining price’.
Following is the feature of perfect competition:
Marginal revenue of a firm is constant throughout under:
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
A holiday resort in a remote village is very popular among the tourists. Since the connectivity is very poor with the outer world, the owner employs the local villagers for the functioning of the resort.
This is a case of:
Match the following:
| Column I | Column II | ||
| A. | Monopoly | (i) | Availability of close substitutes |
| B. | Oligopoly | (ii) | Absence of close substitutes |
| C. | Perfect competition | (iii) | Few large sellers |
| D. | Monopolistic competition | (iv) | Homogeneous products |
Define monopolistic competition.
Highlight the importance of selling costs in a monopolistically compatible market.
Identify the market form of the following:
The Government of India is the sole buyer of fighter aircrafts.
Identify the market form for the following:
Textile industry in India.
Identify the market form for the item given below:
A single buyer
Discuss any four differences between monopoly and monopolistic competition.
Which type of market structure is the following? Give reason.
Scooters
Which type of market structure is the following? Give reason.
Mobile phone services
Why can a monopolist charge different prices in different markets?
What do you mean by homogeneous products?
What is meant by barriers to entry?
Identify the market form from the following.
Perfect knowledge
Name the characteristic which makes monopolistic competition different from perfect competition.
