Question

what is monopoly are there any example of monopoly in india ? how monopolies are controlled​

Answer 1

Explanation:

A monology is a firm who is the sole seller is the product, and where there are no close subsitutes.

EXAMPLE: Microsoft and Windows.

Answer 2

Answer:

Monopoly:

Monopoly refers to a market situation where there is a single seller selling a product which has no close substitutes.

Example of Monopoly in India is :

Railways in India

Measures to controll monopoly are:

1. Taxation: Taxation is another method by which the monopolistic power can be prevented or restricted. Government can impose a lump-sum tax on a monopoly firm, irrespective of its level of output. Consequently, its total profit will fall.
2. Legislative Method: Government can control monopolies by legal actions. Anti-monopoly legislation has been enacted to check the growth of monopoly.
3. Creating fair competition: Monopoly can continue only as long as there is no real competition. This competition must be effective, if monopoly conditions are to be checked.
4. By organisating customer association: One effective method of checking and controlling monopoly is that the Government should help in the formation of consumers associations.It should give them some reasonable powers and patronage.