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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.
Soil layer that is rich in iron oxide and derived from rocks weathering under oxidizing and leaching conditions
Minimum Support Price (MSP) was introduced in India in which year?
Photosynthetically Active Radiation (PAR) is the portion of the light spectrum accessible for photosynthesis in green plants. What is the range of spect...
Recently which app is launched by Ministry of Textiles to provide important information about MSP and agronomy to jute farmers?
Freedom from variable errors is known as:
Average maize yield in India is
Which one of the following gases contributes maximum to “green house” effect
The naturally occurring contact insecticides developed from tobacco
Which term leads to rapid formation of new species through the development of multiple sets of
chromosomes
The main aim of plant breeding is