1
Question
The phenomena of excess production capacity is associated with ________.
The phenomena of excess production capacity is associated with ________.
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Solution
The correct option is D oligopoly
Oligopoly is a type of market where there are small number of big firms influence the market price and demand of the commodity. Each firm under this market is so big that they can produce more commodities if required by the market at a very short time due to which they have excess production capacity.
Oligopoly is a type of market where there are small number of big firms influence the market price and demand of the commodity. Each firm under this market is so big that they can produce more commodities if required by the market at a very short time due to which they have excess production capacity.
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