WHICH TYPE OF MARKETS ARE INDIAN RAILWAYS AND AIRLINES?

Is there any other option than railways which doesn’t comes under government and are

 competitors of that?

The answer will be no, because Indian railways comes under Indian government which only govern by them, there is no other competition for them, and there is no other option for others to enter in the railways. This the perfect example of monopoly market.

So, we can say that “Monopoly market is the market where there is no competition at all, restrictions for other to enter, nature of product and service are unique”.

In which type of market, Airlines companies comes under?

Airlines companies are those type of market where there are few competitors, we can take example indigo, Air Asia, Go air etc. these are some airlines of India which are competing each other, there only few competitions, And entry for others is restricted, these type of market is known as Oligopoly Market .

So, here “an Oligopoly Market is a market where no. of firms are few other entry is restricted, both type of products differentiated or undifferentiated lies under this market”