Monopoly
Journal Title: International Journal for Research in Applied Science and Engineering Technology (IJRASET) - Year 2014, Vol 2, Issue 11
Abstract
Market is the most important place where seller and buyers meet each other and exchange commodity. In absence of market the economic growth of society goes down. Therefore a well-planned marketing is very important for the growth of country. Monopoly marketing is one of the important forms of market. In monopoly marketing there is only one seller who produces and sells a commodity which does not have a close substitute. There are many barriers for entering monopoly market. It is firm as well as industry. Example of monopoly market, In Saudi Arabia, the government has sole control over the oil industry; similarly in India government has full control over railways. So they both come under monopoly marketing as there is no close substitute of oil and railways. Similarly 76% of economic growth of a country is fully based on monopoly market.
Authors and Affiliations
Anu Jindal, Anshu Rawat, Diksha Mangla, Diksha Taneja
Keywords
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