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Question
Identify the market form of the following:
Motor car market in India.
Solution
The motor car market in India represents an oligopoly.
RELATED QUESTIONS
Identify the market having a single buyer and many sellers from the following:
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
Non-price competition is ______.
What is the shape of the demand curve faced by any monopoly firm? Support your answer with a diagram.
Which of these feature's is found in both a perfectly competitive market and a monopolistically competitive market?
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
Which of the following is the least competitive market?
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 |
Read the following statements carefully and choose the correct alternative:
Assertion (A): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker under perfect competition.
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State the advantage of monopolistic competition over monopoly.
State the market form of the following commodity.
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Identify the market form for the item given below:
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Ball-pen
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Give two examples of monopolistically competitive market.
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Firm is a price maker.
