Download App

Non-Competitive Markets — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsNon-Competitive Markets1 Mark
Question
What is the importance of monopoly?
✓

Answer

  1. Patent rights encourage discovery and invention of new product and technique.
  2. Public monopolies (like railways, etc) protect the rights and interest of the public and saves them from exploitation.

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 "1 Marks Question" from Non-Competitive Markets→Non-Competitive Markets — all question types→Economics STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

What is meant by the term 'price taker' in the context of a firm?
→
What does a rightward shift in demand curve indicate?
→
Why is production possibility curve also called opportunity cost curve?
→
Name any three variables of macro economics.
→
Under which market form, a firm's Marginal Revenue is always equal to price.
→
What is meant by average cost?
→
Define price elasticity of supply.
→
What is market supply of a product?
→
Define price elasticity of demand.
→
Draw AVC, ATC and MC curves in a single diagram.
→