Which are the extreme forms of markets classified on the basis of degree of competition?

Perfectly competitive and monopoly market

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Monopoly and oligopoly market

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Oligopoly and monopsony market

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Monopolistic and monopoly market

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Solution

The correct option is A
Perfectly competitive and monopoly market

Perfectly competitive market and monopoly market are extreme forms of the market. In between these two extreme forms of the market, there are monopolistically competitive market and oligopoly market.

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Similar questions

State any two features each of monopoly and monopolistic competition.

State four features of a perfectly competitive market.

The market demand curve for monopolistic competition is flatter than the demand curve for monopoly. State true or false.

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