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प्रश्न
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)
उत्तर
- Automobiles, cement, steel, aluminium etc. are examples of oligopolistic markets in India.
- Duopoly is a type of oligopoly in which there are exactly two sellers and the product sold by the two firms is homogeneous with no substitute for it. E.g.: Pepsi & Coca-Cola in the soft drink market.
- Oligopoly is a type of market where there are a few sellers producing either a homogenous or differentiated product. In India, we have various examples of this type of competition. Airtel, Vi, Jio in the telecom market, HPCL, BPCL and IOCL in the oil market, Hyundai, Toyota, Maruti, Kia, Tata, Mahindra, Ford in the automobile market.
संबंधित प्रश्न
State whether the following statement is True or False
Product differentiation is the most distinguishing feature of monopolistic competition.
Features of Monopolistic Competition.
What are the features of perfect competition.
The objective of a seller in monopoly market is...............................
(loss \ profit \ negative profit \ zero profit)
The seller is a price maker in the perfect competition.
Explain the features of monopoly.
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 an oligopoly market:
Inter- dependence between firms
Differentiated products is a characteristic of: (Choose the correct alternative):
(a) Monopolistic competition only
(b) Oligopoly only
(c) Both monopolistic competition and oligopoly
(d) Monopoly
Demand curve of a firm is perfectly elastic under: (Choose the correct alternative)
(a) Perfect competition
(b) Monopoly
(c) Monopolistic competition
(d) Oligopoly
Explain the implications of the following in a perfectly competitive market :
Large number of sellers
Explain the implications of the following in a perfectly competitive market :
Homogeneous products.
Explain the implications of the following in an oligopoly market: Barriers to entry of new firms
Explain the implications of the following in an oligopoly market: A few or a few big sellers
‘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
Explain the implications of the following : Product differentiation in monopolistic competition.
What is price-maker firm?
Which of the characteristics separates it from perfect competition and why?
Explain the implications of the following in an oligopoly market:
Non-price competition
Average revenue and Price are always equal under:(choose the correct alternative)
(a) Perfect competition only
b) Monopolistic competition only
(c) Monopoly only
(d) All market forms
Explain the 'free entry and exit of firms' feature of monopolistic competition.
Distinguish between perfect oligopoly and imperfect oligopoly. Also, explain the interdependence between the firms' feature of oligopoly.
What is meant by collusive oligopoly?
Price discrimination is possible under monopoly.
Define or Explain the following concepts
Monopoly
Define monopoly.
What can you say about the number of buyers and sellers under monopolistic competition?
Answer the following question :
What are the features of monopolistic competition ?
Give reason or explain the following.
Price discrimination is possbile under monopoly.
Fill in the blank with proper alternatives given in the bracket:
Under monopoly there is existence of ______________ .
State whether the following statement is true or false.
There is no product differentiation under monopolistic competition.
State whether the following statement is True or False with reason:
Perfect competition means pure competition.
Distinguish between :
Output method and Expenditure method.
State with reasons, whether you Agree or Disagree with the following statements.
Perfect competition is an imaginary concept.
Answer the following question
What are the features of Perfect Competition?
Answer the following question
What are the features of monopoly?
State with reason whether you agree or disagree with the following statement
Perfect Competition means Monopolistic Competition.
State with reason whether you agree or disagree with the following statement
A seller is price maker in monopoly.
Answer in detail
What is Perfect Competition? Explain price determination under Perfect Competition.
Write short note on the following:
Features of pure competition
Distinguish between the following:
Perfect competition and Pure competition
Distinguish between the following:
Perfect competition and Monopoly
Distinguish between the following:
Natural monopoly and legal monopoly
Distinguish between the following:
Natural monopoly and Social monopoly
Define or explain the following concept:
Monopolistic Competition
Give reason or explain:
Single price prevails in perfect competition.
Give reason or explain:
Price discrimination is possible under monopoly.
Give reason or explain:
Selling cost is incurred by a firm in Monopolistic competition.
Give reason or explain:
A monopolist can control the supply of goods.
Give reason or explain:
Sellers and the buyers are price takers in perfect competition.
State whether the following statement is TRUE and FALSE.
There is no price discrimination under Monopolistic competition.
State whether the following statement is TRUE and FALSE.
In a monopoly market, firm and industry are the same.
State whether the following statement is TRUE and FALSE.
Product differentiation is not possible under perfect competition.
Match the following:
|
Group A
|
Group B
|
|
Monopoly
|
Public monopoly
|
|
Product differentiation
|
Abnormal profit
|
|
Railway
|
Monopolistic Competition
|
|
Perfect Competition
|
Prof. Chamberlin
|
|
Pure Competition
|
Homogenous product
|
|
|
Cartel
|
|
|
Selling cost
|
Fill in the blank with appropriate alternative given below
_____________ appears in a monopoly market.
Fill in the blank with appropriate alternative given below
In ________ market, seller creates products differentiation.
Fill in the blank with appropriate alternative given below
Monopolist means __________ competitive.
Define 'or' explain the following concept.
Product Differentiation:
Answer the following question.
What is the reason for an indeterminate demand curve under Oligopoly?
Answer the following question.
Elaborate three main features of a monopoly form of market.
In an economic sense, the market includes the following activities
- The place where goods are sold and purchased.
- An arrangement through which buyers and sellers come in close contact with each other directly or indirectly.
- A shop where goods are sold.
- All of the above.
Observe the table and answer the question:
| Price of banana (per dozen) in ₹ | Demand (in dozen) | Supply (in dozen) | Relation between DD and SS |
| 10 | 500 | 100 | DD > SS |
| 20 | 400 | _____ | DD > SS |
| 30 | _____ | 300 | DD = SS |
| 40 | 200 | _____ | DD < SS |
| 50 | ______ | 500 | DD < SS |
Fill in the blanks in the above schedule.
Features of oligopoly market:
- There are few firms or sellers.
- Sellers sell differentiated product.
- There is free entry and exit of firms.
- There is considerable element of uncertainty in this type of market.
Find the odd word
Selling cost -
In which one of the following types of markets are Average Revenue curve and Market Demand curve the same?
