SSC MTS EXAM

SSC

GENERAL ECONOMICS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
This market structure has 3-4 firms who dominate 60-80% of the industry.
A
Monopoly
B
Monopolistic Competitio
C
Perfect Competitio
D
Oligopoly
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.

There is 1 question to complete.