When there are only few sellers of the commodity, the market is called:

Related MCQs

• From the position of stable equilibrium, the market supply of a commodity decreases, while the market demand remains unchanged, then:
• Relation between price of a commodity and demand for another commodity is measured by:
• If the income elasticity of demand for a commodity is found to be 0.4, then the commodity concerned is:
• If the supply curve of the commodity is having a positive slope, a rise in the price of the commodity, results in:
• The market equilibrium for a commodity is determined by :
• In drawing an individual demand curve for a commodity, all but which of the following are kept constant:
• When the price of the substitute commodity of X falls, the demand for X:
• If the quantity demanded remains unchanged as the price of the commodity falls, the coefficient of price elasticity of demand is:
• If the income elasticity of demand is greater than one, then the commodity is:
• The want satisfying power of a commodity: