Find odd word Single seller,price maker,no close substitutes,advertising
Answers
Answered by
11
advertising because all are part of monopoly market except advertising
Answered by
3
Advertising is the odd word out of the given words.
Explanation:
Single Seller, Price maker, no close substitutes all are features of a Monopoly market form.
Monopoly market occurs when there is just one seller in the market. Being a single seller, having no close substitutes, gives the firm the authority to adjust price accordingly, hence it's called a price maker.
Advertising on the other hand, is a feature of a competitive market, where there exists close substitutes and product differentiation plays a key role in being the market leader.
Similar questions