Question

Vegetable market in India is nearly an example of

1) Perfect Competition
2) Monopoly
3) Oligopoly
4) Imperfect Competition
5) High Monopoly

Answer 1

i think monopoly or high monopoly may correct answers

Answer 2

We are required to answer what type of market exists in the vegetable market of India and the answer is a perfect competition which is the first option given to us.

• The Indian vegetable market is an example of a perfect competition market system.
• In this kind of system, the sellers selling a product are many.
• The product sold is very similar in nature, size, quality, and content.
• The price of the product cannot be fixed by an individual seller because of intense competition, the price fixed by other competitors plays a role in fixing the price.
• The number of buyers in such a market is huge.
• Therefore, from the above we can see that the correct answer is 1) Perfect Competition.

PROJECT CODE: #SPJ3