This document discusses monopoly markets and their key features. A monopoly market is one where there is a single seller of a product or service without close substitutes. Examples given include railways in India, RTA buses, and the metro system in Dubai. Key features of a monopoly include there being one seller and many buyers, restrictions on new firms entering the market, a lack of close substitutes, and the monopolist having full control over price. The document also notes that monopolies can engage in price discrimination by charging different prices to different buyers for the same good or service.

2. Forms
Of
Market

4. – 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.

6. RTA Buses and Metro in Dubai.

7. Features
of

8. – 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.

9. – 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.

10. – 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.

11. Group
Discussion

12. – GIVE ANY 2 EXAMPLES FOR
MONOPOLY
– WHY ENTRY OF NEW FIRM IS
RISTRICTED IN MONOPOLY?
– Explain any 2 features of
monopoly?

13. Home work
– Research about DANATA
.