MONOPOLY
Where there will be a
single seller and many buyers. There will be no competitor entering into the market .
EX : COAL EXTRACTION ,
BOEING INDUSTRY .
OLIGOPOLY
In this market the there will
be few firms producing the goods and few buyers but in a large scale of sales.
EX : JCB proclainer
SWITCHING COST
Changing the products by
considering the quality, price, brand , comfort and usage of products by discarding the old product.
EX :
Considering the skybags
what I was using is Rs.1500 and and I want to buy a new bag in fastrack of
Rs.1200. The additional price which has to be incurred is known as switching cost.
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