Advertisements
Advertisements
Questions
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
Solution
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.
APPEARS IN
RELATED QUESTIONS
“While shopping for fruits in the local market you see many seller selling fruits”. In this context answer the following:
- What is the type of market referred to?
- State and draw the type of demand curve faced by the market above.
- Differentiate between the market indicated above and monopoly on the basis of:
- No. of sellers
- Market price
- Entry and exit of firms in the market
'Homogeneous products' is a characteristic of ______.
Indian Railways is an example of ______.
A monopolist is price maker:
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | (A) | Oligopoly |
| (ii) | Less elastic demand | (B) | Monopolistic competition |
| (iii) | More elastic demand | (C) | Perfect competition |
| (iv) | Indeterminate demand | (D) | Monopoly |
Which of the following market types has the fewest number of firms?
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
Give three points of difference between perfect competition and monopoly.
Define monopolistic competition.
To which market is product differentiation relevant?
Identify the market form for the following:
Perfectly elastic demand.
Identify the market form for the item given below:
Homogeneous goods
Identify the market form for the item given below:
A single buyer
Define monopoly.
Give an example of price discrimination.
Which type of market structure is the following? Give reason.
Jeans
Which type of market structure is the following? Give reason.
Soft drinks
What is the difference between perfect and imperfect oligopoly?
In what respects does oligopoly differ from monopoly?
