But if you take a closer look, you will find that some of the smaller buses have only one front wheel. They have no exhaust, and they don't chug. Emblazoned with a sign that says "Save Kathmandu," they are among the smallest and least-familiar models in the world's growing fleet of electric vehicles:
Example, Types and Features Micro Economics! The term oligopoly is derived from two Greek words: Oligopoly is a market structure in which there are only a few sellers but more than two of the homogeneous or differentiated products.
So, oligopoly lies in between monopolistic competition and monopoly. Oligopoly refers to a market situation in which there are a few firms selling homogeneous or differentiated products. In India, markets for automobiles, cement, steel, aluminium, etc, are the examples of oligopolistic market.
In all these markets, there are few firms for each particular product.
Under duopoly, it is assumed that the product sold by the two firms is homogeneous and there is no substitute for it.
Examples where two companies control a large proportion of a market are: Pure or Perfect Oligopoly: If the firms produce homogeneous products, then it is called pure or perfect oligopoly. Though, it is rare to find pure oligopoly situation, yet, cement, steel, aluminum and chemicals producing industries approach pure oligopoly.
Imperfect or Differentiated Oligopoly: If the firms produce differentiated products, then it is called differentiated or imperfect oligopoly. For example, passenger cars, cigarettes or soft drinks. The goods produced by different firms have their own distinguishing characteristics, yet all of them are close substitutes of each other.
If the firms cooperate with each other in determining price or output or both, it is called collusive oligopoly or cooperative oligopoly. If firms in an oligopoly market compete with each other, it is called a non-collusive or non-cooperative oligopoly. The main features of oligopoly are elaborated as follows: Under oligopoly, there are few large firms.
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The exact number of firms is not defined. Each firm produces a significant portion of the total output. There exists severe competition among different firms and each firm try to manipulate both prices and volume of production to outsmart each other.
For example, the market for automobiles in India is an oligopolist structure as there are only few producers of automobiles. The number of the firms is so small that an action by any one firm is likely to affect the rival firms. So, every firm keeps a close watch on the activities of rival firms.
Firms under oligopoly are interdependent. Interdependence means that actions of one firm affect the actions of other firms. A firm considers the action and reaction of the rival firms while determining its price and output levels.
A change in output or price by one firm evokes reaction from other firms operating in the market. A change by any one firm say, Tata in any of its vehicle say, Indica will induce other firms say, Maruti, Hyundai, etc.
Under oligopoly, firms are in a position to influence the prices. However, they try to avoid price competition for the fear of price war. They follow the policy of price rigidity. Price rigidity refers to a situation in which price tends to stay fixed irrespective of changes in demand and supply conditions.
Firms use other methods like advertising, better services to customers, etc. If a firm tries to reduce the price, the rivals will also react by reducing their prices. However, if it tries to raise the price, other firms might not do so.
It will lead to loss of customers for the firm, which intended to raise the price.In , three years after he joined business, he introduced three strategies for the first time in his business and in Nepal to overcome the inertia facing the auto industry – marketing of two wheelers, the concept of bank guarantee, and the concept of dealership.
Research and Markets has announced the addition of the "Automobile Industry Forecast to India, Pakistan, Bangladesh, Nepal, Sri Lanka and Bhutan" report to their offering.
It is predicted. Automobile Industry in Nepal Along with the development of Road and transportation facilities in Nepal, growing business of the automobiles and its accessories, spare parts, automotive oils and other parts used in automobiles has been able to sustain the commercial growth and promotion of overall national economy of Nepal.
The Automotive Industry in Developing. the potential for the industry’s growth. The dream of a viable, full-blown na-tional automotive industry lies beyond the reach of all but the very largest developing countries, such as Brazil, China, and India. And even in these.
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Nepal - Industry The industrial sector in Nepal is very undeveloped.
Early industrial ventures, spurred by domestic shortages in the s and s, fared badly due to inexperience.