Industrial Economics-Market Structure (IEcoS (Economic Services) Economics Paper-3): Questions 1 - 7 of 7

Access detailed explanations (illustrated with images and videos) to 74 questions. Access all new questions we will add tracking exam-pattern and syllabus changes. Subscription can be renewed yearly absolutely FREE! View Sample Explanation or View Features.

Rs. 300.00 or

How to register?

Question number: 1

» Industrial Economics » Market Structure

Edit

Appeared in Year: 2010

Essay Question▾

Describe in Detail

Write a short note on economies of scale.

Explanation

Economies of scale are cost advantages reaped by companies when production becomes efficient.

  • Companies can achieve economies of scale by increasing production and lowering costs. This happens because costs are spread over a larger number of goods.

  • Economies of scale are the competitive advantage that large entities have over smaller ones

… (44 more words) …

Question number: 2

» Industrial Economics » Market Structure

Edit

Appeared in Year: 2011

Essay Question▾

Describe in Detail

Write a short note on S-C-P Paradigm.

Explanation

This approach is used to study firm’s behavior. We can discuss S-C-P Paradigm as follows:

  • Market Structure: It is identified on the basis of intensity or degree of competition between buyers and sellers. Its main features are:

    • Seller’s concentration: it means number and size distribution of sellers in the market. For example in case of mo

… (280 more words) …

Question number: 3

» Industrial Economics » Market Structure

Edit

Appeared in Year: 2010

Essay Question▾

Describe in Detail

Explain Alfred Weber’s theory of industrial location.

Explanation

  • The basis of this theory is the study of general factors, which makes an industry to shift towards various different geographical regions. In this theory, Weber has taken into consideration factors that will decide the actual setting up of an industry in a particular area.

    • Weber’s Problems: Weber faced many serious problems. He wanted to fi

… (559 more words) …

Question number: 4

» Industrial Economics » Market Structure

Edit

Appeared in Year: 2010

Essay Question▾

Describe in Detail

Write a short note on entry barriers.

Explanation

Barriers to entry are the economic term describing the existence of high start-up costs or other obstacles that prevent the new competitors from entering an industry or area of business easily.

  • Barriers to entry will benefit existing firms because they protect their revenues and profits. Common barriers to entry include special tax benefits o

… (65 more words) …

Question number: 5

» Industrial Economics » Market Structure

Edit

Appeared in Year: 2018

Essay Question▾

Describe in Detail

Explain the theory of contestable markets? (2012)

Explanation

Contestable market theory is one of the economic concepts, which refer to a market in which there are only a few companies that because of the threat of entry of new firms, behave in a competitive manner.

  • It assumes that even in a monopoly or oligopoly, the existing companies will behave in a competitive manner when there is a lack of barrier

… (244 more words) …

Question number: 6

» Industrial Economics » Market Structure

Edit

Appeared in Year: 2018

Essay Question▾

Describe in Detail

What is the Lerner’s index and what is its value for perfectly competitive markets?

Explanation

In perfect competition, price is equal to the marginal cost of the product at the equilibrium position. This equilibrium position ensures maximum social welfare or optimum allocation of resources.

  • When competition is less than pure or perfect, the demand curve faced by a firm will slope downward and marginal revenue curve will be lying below

… (207 more words) …

Question number: 7

» Industrial Economics » Market Structure

Edit

Appeared in Year: 2010

Essay Question▾

Describe in Detail

Write a short note on economies of scale.

Explanation

Economies of scale are cost advantages enjoyed by companies when production process becomes efficient. Companies can achieve economies of scale by increasing production and lowering down their costs.

  • This happens because costs gets scattered over a larger number of goods.

  • Economies of scale are the competitive advantage that large entitie

… (49 more words) …

Developed by: