Download App

Non-Competitive Markets — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsNon-Competitive Markets2 Marks
Question
State three features of monopoly.
✓

Answer

  1. A single seller market.
  2. No close substitutes of the product.
  3. Barriers to the entry of new firms.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "2 Marks Question" from Non-Competitive Markets→Non-Competitive Markets — all question types→Economics STD 12 Humanities & Commerce question papers→Rajasthan Board STD 12 Humanities & Commerce question papers→Rajasthan Board question paper generator→

Similar questions

What are the different phases in the Law of Variable Proportions in terms of Total Product? Give reasons behind each phase. Use diagram.

OR

State the different phases in the behaviour of total product in the law of variable proportions. Also, show the same in a diagram.

OR

Explain the law of variable proportions with the help of total product curve. Use diagram.

→
Giving reason, classify the into normal resident of India or not.
Indian employees working in WHO, located in India.
→
Explain how distribution of gross domestic product is its limitation as a measure of economic welfare.
→
Explain producer’s equilibrium with the help of a diagram.
→
A consumer consumes only two goods X and Y. Marginal utility of each is 2. The price per unit of X and Y is Re. 1 and Rs. 2 respectively. Is the consumer in equilibrium? What will be the further reaction of the consumer? Explain.
→
A consumer consumes only two goods X and Y. At a certain consumption level of these goods, he finds that the ratio of marginal utility to price in case of X is lower than that in case of Y. Explain the reaction of the consumer.

OR

By spending his entire income only on two goods X and Y a consumer finds that, $\frac{\text{MU}_\text{x}}{\text{P}_\text{x}}<\frac{\text{MU}_\text{y}}{\text{P}_\text{y}}$Explain how will the consumer react.

OR

A consumer consumes only two goods X and Y and is in equilibrium. Show that when the price of good X rises, the consumer buys less of good X. ASVG Use utility analysis.

→
What is maximum price ceiling? Explain its implications.
→
What is e-payment?
→
Can AP rise when MP starts declining?
→
State three causes of decrease in supply.
→