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प्रश्न
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:
पर्याय
Perfect competition
Monopoly
Monospony
Monopolistic competition
उत्तर
Monospony
Explanation:
This is an example of a monopsony, where there is only one buyer of labour (the resort owner) and numerous sellers of labour (local people). Because the people have few other employment options, the resort owner holds considerable authority over wages and working conditions.
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संबंधित प्रश्न
In which type of market price discrimination is practiced? Explain with an example.
A monopolist is price maker:
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
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With the help of an example explain the meaning of price discrimination.
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Identify the market form from the following.
Firm is a price maker.
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