Meaning and Types of Markets — Economics STD 10 — Question
ICSE BoardEnglish MediumSTD 10EconomicsMeaning and Types of Markets1 Mark
Question
Define Monopoly. Give an example in India.
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Answer
Monopoly is a market situation where there is a single firm selling the commodity and there is no close substitute of the commodity sold by the monopolist. Example: Indian Railways.
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