Non-Competitive Market: Monopoly, Monopolistic Competition, Oligopoly

The compilation of these Economics Notes makes students exam preparation simpler and organised.

Non-Competitive Market

Turn your attention to the Indian Railways. Try and find an alternative railway in India. You will realize there are none! That is because Indian Railways enjoys a monopoly in rail transport. Just like this, there are many markets where the competition is not perfect. Let us take a look at a few of these non-competitive markets.