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Monopoly (1)

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Monopoly (1)

  1. 1. Forms Of Market
  2. 2. – It is a form of market in which there is a single seller of a product with no close substitutes. – Example: railway in India are monopoly industry of the government of India.
  3. 3. RTA Buses and Metro in Dubai.
  4. 4. Features of
  5. 5. – One seller and large number of buyers: under monopoly, there is a single producer of a commodity. – Restriction on the entry of new firms: under monopoly, there are some restrictions on the entry of new firms into the monopoly industry.
  6. 6. – No close substitutes: a monopoly firm produces a commodity that has no close substitutes. – Example: there is no close substitute of railways as a bulk carrier. – Full control over price: being a single seller of the product, a monopolist has full control over its price. A monopolist, thus , is a price maker. He can fix whatever price he wishes to fix for his product.
  7. 7. – Price discrimination: a monopolist may charge different price from different buyers. It is called price discrimination. – It refers to the practice of charging different prices from different prices from different buyers for the same good.
  8. 8. Group Discussion
  9. 9. – GIVE ANY 2 EXAMPLES FOR MONOPOLY – WHY ENTRY OF NEW FIRM IS RISTRICTED IN MONOPOLY? – Explain any 2 features of monopoly?
  10. 10. Home work – Research about DANATA .

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