Any present or past examples for Monopoly and perfect competition?

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2026-08-06 03:21

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Petrol Bunks are best example for perfect competition.The reason is all sellers sell same product with same price .The product differences if any is also same (like ordinary petrol /diesel & extra premium petrol /Diesel)

Stock Market also exhibits perfect competition.

In oligopoly market there are different sellers with product differential being wide in terms of technology & price. E.G, Mosquito repellents ,where cotton nets with repellent coating, coils, electronic repellents, repellent frequency sound wave repellents are seen in markets .Buyers who are rich will buy costly repellents & others will buy low priced items.

Monopoly market represent single seller & many buyers. LIC India enjoyed for many years monopoly in Life Insurance market. Railways in India is monopoly controlled by Central Government Railway Ministry . similarly petroleum product distribution is dealt by Petroleum ministry. Oil &

Natural Gas Commission is having monopoly.

Any producer with break through technology offers a product or service having no competitors enjoys monopoly. For sometime Maruti Udyog Ltd enjoyed monopoly over their spare parts.

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