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Q. What do you mean by Oligopoly?
Type of market condition that is most appropriate in the today's economy, is oligopoly. It's characterised by mutual interdependence among a few sellers who control total market supply. Oligopoly, thus, takes place when there are just a few sellers. It differs from both monopoly and perfect competition and from monopolist competition. Oligopoly is a market where small group of producers, have substantial control over major portion of market demand, with or without differentiated product.
Q. Explain about Cardinal utility? A measure of utility or satisfaction derived from consumption of services and goods which can be measured using an absolute scale. Cardinal u
REASONS FOR FLUCTUATIONS IN AGRICULTURAL PRICES Production depends on factors beyond the control of the producers e.g. weather, disease and pests. Actual and planned output i
Describe the Status goods of law of demand The law doesn't concern the commodities that function as a 'status symbol', add to the social status or exhibit prosperity and opulen
Factors influencing demand for a product These are broadly divided into factors determining household demand and factors affecting market demand . Factors affecting hou
Q. Show Normal profit equilibrium? Normal Profits: With the condition of MC = MR and MC cuts the MR from below, if E is the point of stable equilibrium, output of firm is OM
Equilibrium in a single market model A single market model has three variables: the quantity demanded of the commodity (Q d ), the quantity supplied of the commodity (Q s ) an
How will you influence people to strive willingly for group objective in your organization (target based industry)? Apply your interpersonal influence through communication process
Costs of Economic Growth (Increase in National Income) 1. People living in industrial towns suffer from the effects of a polluted atmosphere. 2. The manufacture of
The quantity theory of money In the 17 th Century it was noticed that there was a connection between the quantity of money and the general level of prices, and this led to th
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