Question

Examples of monopoly monopolistic competition and oligopoly in india

Answer 1

Give real life examples of a monopoly, perfect competition, oligopoly, monopolistic competition and duopoly in India.

Give real life examples of a monopoly, perfect competition, oligopoly, monopolistic competition in India.

Expert Answers





Okay, here we go, in relation to India:

OLIGOPOLY: A situation where there are only a few sellers in a particular economy who control a particular commodity.  They can, therefore, influence prices and affect the competition.  In India, an example of this would be mobile telephony - There are only a few operators, examples of which are: Airtel, Idea, BSNL, Reliance

PERFECT COMPETITION: This is an economic situation that really doesn't exist, in which a bunch of conditions are met, not the least of which are free entry and exit from a market, tons of sellers selling the exact same product, and tons of buyers for that product who have perfect knowledge of what it does and how it works.  An Indian fish market might be an example of something close to this (though real "perfect competition" doesn't really exist.) At the fist market, lots of sellers gather together to try to sell the same wares, and lots of customers try to buy them with a good knowledge of what they are buying.  There is little to prevent someone from joining in on the selling or quitting the market altogether

⬆️⬆️⬆️⬆️⬆️

HOPE IT HELPS ❤

pls Mark me as brainliest ✅✅