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Start learning 50% faster. Sign in nowPerfect Competition: Perfect competition is a market system characterized by many different buyers and sellers. With so many market players, it is impossible for any one participant to alter the prevailing price in the market. Monopoly: A monopoly is the exact opposite form of market system as perfect competition. In a pure monopoly, there is only one producer of a particular good or service, and generally no reasonable substitute. Oligopoly: An oligopoly is similar in many ways to a monopoly. The primary difference is that rather than having only one producer of a good or service, there are a handful of producers, or at least a handful of producers that make up a dominant majority of the production in the market system. Monopolistic Competition: Like a perfectly competitive market system, there are numerous competitors in the market. The difference is that each competitor is sufficiently differentiated from the others that some can charge greater prices than a perfectly competitive firm. Monopsony: Market systems are not only differentiated according to the number of suppliers in the market. They may also be differentiated according to the number of buyers.
When an opinion of a person is relevant grounds of the opinion are:
A is tried for the murder of B by beating him with a club with the intention of causing his death. At A's trial which of the fact is not in issue.
A agrees to buy from B a certain horse, it turns out that the horse was dead at the time of bargaining though neither party was aware of the fact.
As per the Banking Regulation Act the chairman shall exercise his powers subject to the superintendence, control and direction of the ___________________
Under the Hindu Marriage Act, 1955, which of the following is not a valid ground for divorce?
The State Chief Information Commissioner and the State Information Commissioners shall be appointed by the Governor on the recommendation of a committee...
Within what time frame must the arbitral tribunal make an award in matters other than international commercial arbitration as per the Arbitration and Co...
Under section 17 of The Probation of Offenders Act, 1958, rules can be framed by:
Which of the following statements is the most appropriate as mentioned in Art. 1 of the Constitution?
As per the Motor Vehicles Act, a motorcycle with an engine capacity not exceeding 50cc may be driven in a public place by a person after attaining what ...