What is Monopoly? explain its types.
Introduction: The word monopoly is a Latin word which is composed of two words mono and poly. meaning single and seller. A monopoly is market situation in which a single seller or a firm sells…
Explain the types of Oligopoly Market.
Introduction: The term oligopoly is derived from two Greek words oligoi and Pollein meaning a few to sell. Thus it is a market where there are few firms producing either identical product or differentiated product.…
Write a note on Life Cycle of a Product.
Introduction: The pricing strategy for a product often evolves throughout its life cycle as it moves through different stages. The stages of life cycle of a product are introduction, growth, maturity, and decline. Each stage…
Write a note on Pricing Policy.
Introduction: Pricing policy is nothing but a pricing of a new product. In production of a product, a distinction is made between perishable and non perishable products .a perishable product does not long for a…
What do you mean by Price Discrimination? Explain its Degrees of Discrimination.
Introduction: Generally speaking the monopolist will not change uniform price for all the customers in the market. He will follow different Degrees of Price discrimination under different circumstances. The policy of price discrimination refers to…
What is Monopolistic Competition? Explain its features?
Introduction: Professor Chamberlain is the main architect of the theory of monopolistic competition this market exhibition the characteristics of both are competition and monopoly. Since modern markets are combined and integrated with Monopoly powers and…
What is Oligopoly Market? explain its features?
Meaning of Oligopoly Market: The term oligopoly is deriving from two Greek word Oligo and poly which means few and sells. Under oligopoly we come across a few producers specializing in the production of identical…
What is a Duopoly Market? Explain the features it?
Meaning of Duopoly: Duopoly is that market situation where there are only two firms operating in the market. Since there are only two firms producing identical goods under duopoly any change in price or output…
What do you mean by Monopoly Market? Explain its features?
Meaning of monopoly: The word monopoly is made up of two words-mono means single and poly means to sell. Thus monopoly means presence of a only one seller in the market. Monopoly is that type…
What is a Perfect Competition? Explain its Features.
Introduction: A market means the whole set of condition under which a commodity is marketed, the extent and nature of competition in selling, the nature and number of buyers, the nature of the commodity that…