SSC
GENERAL ECONOMICS
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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This market structure has 3-4 firms who dominate 60-80% of the industry.
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Monopoly
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Monopolistic Competitio
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Perfect Competitio
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Oligopoly
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Explanation:
Detailed explanation-1: -The correct sequence of the market structure from most to least competitive is perfect competition, imperfect competition, oligopoly and pure monopoly.
Detailed explanation-2: -Electricity, railways, and water are examples of the monopoly market. FMCG and automobiles are examples of an oligopoly industry. No competition exists as there is a single seller of the goods.
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