Home
Class 11
ECONOMICS
Classify the following in their form of ...

Classify the following in their form of market :
1. In India, automobiles are produced by 3 companies Ford, Hyundai and Renault.
2. Soap industry in India includes many markers such as Lux, Dove, Pears, Lifebuoy nad the like.
3. India Railways is the only long distance mode of transportation on land.

Text Solution

Verified by Experts

The correct Answer is:
1. Since there are only 3 producers of automobiles, it is an oligopoly.
2. Since there are a number of producers and product differentiation exists, it is monopolistic competition.
3. Since it is a single suplier of this product and there are no close substitutes, it is a monopoly.
Promotional Banner

Topper's Solved these Questions

  • FORMS OF MARKET AND PRICE DETERMINATION UNDER PERFECT COMPETITION WITH SIMPLE APPLICATIONS

    RADHA BHUGANA|Exercise OBJECTIVE TYPE QUESTIONS|4 Videos

  • FORMS OF MARKET AND PRICE DETERMINATION UNDER PERFECT COMPETITION WITH SIMPLE APPLICATIONS

    RADHA BHUGANA|Exercise CONCEPTUAL QUESTIONS|8 Videos

  • ELASTICITY OF DEMAND

    RADHA BHUGANA|Exercise Unsolved Numericals|24 Videos

  • INTRODUCTION

    RADHA BHUGANA|Exercise Unsolved Numericals|4 Videos

Similar Questions

Explore conceptually related problems

Which of the following would include Foreign Direct Investement in India ? 1. Subsidiaries of foreign companies in India 2. Majority foreign equity holding in Indian companies 3. Companies exclusively financed by foreign companies 4. Portfolio investment Select the correct answer using the codes given below : (a) 1,2 3 and 4 (b) 2 and 4 only (c) 1 and 3 only (d) 1, 2 and 3 only

Consider the following statements regarding the administrative policies of East India Company in India during 1757 to 1857: 1. The administrative policies remained same without any major change during this period. 2. The main emphasis of the administration was placed on the maintenance of law and order. 3. In 1772, the Company ended the dual government in Bengal and undertook the administration directly. Which of the statements given above is/are incorrect? a) 1 and 2 only b) 1 only c) 2 and 3 only d) 1 and 3 only

Consider the following statements relating to Coal India Limited : 1. It is designated as a 'Maha Ratna' company under the Ministry of Coal. 2. It is the single largest coal producing company in the world. 3. The Headquarters of Coal India Limited is located at Ranchi, Jharkhand. Which of the statements given above is/are correct?