What is Monopoly? Definition of Monopoly, Monopoly Meaning – The Economic Times

Definition: A market structure characterized by a single seller, selling a unique product in the market. In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute. Description: In a monopoly market, factors like government license, ownership of resources, copyright and patent and high starting cost make an entity a single seller of goods. All these factors restrict the entry of other sellers in the market. Monopolies also possess some information that is not known to other sellers. Characteristics associated with a monopoly market make the single seller the market controller as well as the price maker. He enjoys the power of setting the price for his goods. Know more about Monopoly. View this…

the BRICS?BRICS is an acronym that started as BRIC in 2001, coined by Jim O’Neill (a Goldman Sachs economist) for Brazil, China, India, and Russia. Later in 2010, South Africa was added to become BRICS. Goldman Sachs claimed that the global economy will be dominated by the four BRIC economies by 2050. The main reason for such a claim was that China, India, Brazil, Russia, and South Africa were ra

It is an abbreviation for the term “British exit”, similar to “Grexit” that was used for many years to refer to the possibility of Greece leaving the Eurozone. Brexit refers to the possibility of Britain withdrawing from the European Union (EU). The country will hold a referendum on its EU membership on June 23. Description: Why the Call for Referendum? When David Cameron became the prime mi

The third Basel accord or Basel-III is the cornerstone of banking supervision in the world. Framed by a committee of elite central bankers, the accord provides the guidelines for prudent supervision of banks all over the world and sets the standard for such supervision. Description: Basel-III is third in the series of accords following Basel-I and Basel-II. It was released in December, 2010, in

Base rate is the minimum rate set by the Reserve Bank of India below which banks are not allowed to lend to its customers. Description: Base rate is decided in order to enhance transparency in the credit market and ensure that banks pass on the lower cost of fund to their customers. Loan pricing will be done by adding base rate and a suitable spread depending on the credit risk premium. Als

the hard currency came into existence, the most common form of trade was bartering. Barter Systemdates back to the old time when there was no money. The only way to buy goods was to exchange them with personal belongings of similar value. For example- A farmer gives his cattle in exchange for some land, and so on. In simple words, any exchange of goods and services for other goods and services wi

Bank rate is the rate charged by the central bank for lending funds to commercial banks. Description: Bank rates influence lending rates of commercial banks. Higher bank rate will translate to higher lending rates by the banks. In order to curb liquidity, the central bank can resort to raising the bank rate and vice versa. Also See: Base Rate, Call Money Rate

According to the RBI, balance of payment is a statistical statement that shows 1. The transaction in goods, services and income between an economy and the rest of the world, 2. Changes of ownership and other changes in that economy’s monetary gold, special drawing rights (SDRs), and financial claims on and liabilities to the rest of the world, and 3. Unrequited transfers. Description: The tran

Bailout is a general term for extending financial support to a company or a country facing a potential bankruptcy threat. It can take the form of loans, cash, bonds, or stock purchases. A bailout may or may not require reimbursement and is often accompanied by greater government oversee and regulations. The reason for bailout is to support an industry that may be affecting millions of people in

economic growth of country is determined by factors such as Capital structure, Human resources, Natural resources and revenue generation of businesses operating within the nation. A decline in the economic development can impact all the four factors of a government system. One of the main contributors of decline in the economic system is debts. A country borrows money from creditors, with the vie

Asset turnover ratio is the ratio between the value of a company’s sales or revenues and the value of its assets. It is an indicator of the efficiency with which a company is deploying its assets to produce the revenue. Thus, asset turnover ratio can be a determinant of a company’s performance. The higher the ratio, the better is the company’s performance. Asset turnover ratio can be different fro

Seventh round of commercial coal mines auction likely by month end

Despite having the fourth-largest coal reserves in the world, India is the second-largest importer of the fuel, according to a government report. A fifth of the country’s annual coal requirement is being met through imports, despite a decline in coal imports in FY21 and FY22 and a rise in domestic production.

Defence research needs stiff dose of reform; should focus on DRDO issues

Defence research can be productive with private sector-like efficiency only in an environment of innovation, freedom and flexibility devoid of bureaucratic hurdles and rigid procedures. Scientists should be freed from administrative responsibilities. The departmental system within which DRDO functions has to make way for a highly autonomous structure.

Claims against Dr Reddy’s over Revlimid in US dismissed

Dr Reddy’s Laboratories on Thursday said all claims against it in the antitrust litigation filed in the US, related to a prescription medicine Revlimid, used in treatment of multiple myeloma have been dismissed.

Proposed battery swap subsidy unlikely to be linked to EV standards

India is unlikely to link the likely subsidy for battery swapping to adherence of standards, to be announced soon. Existing electric vehicle manufacturers are opposed to homogenous swapping standard.

MCD polls: BJP accuses Kejriwal of ‘misleading’ RWAs by promising ‘financial and political powers’

BJP Spokesperson Sambit Patra also alleged that Kejriwal “usurped the idea of empowerment” of Residents Welfare Association (RWAs) from the BJP’s ‘Sankalp Patra’ for elections to the Municipal Corporation of Delhi (MCD) where it promised working with the associations and financial support.

Indian democracy is global public good; if that cracks, it’s going to cause problem for planet: Rahul Gandhi in UK

The Opposition leader, who is on a tour of the UK, had an interaction session at the ‘Ideas for India’ conference organised by non-profit think-tank Bridge India on Friday during which he articulated his party’s vision for mass action that would result in something “beautiful” for the country.

UAE planning to end monopolies of some big merchant families: Report

The government did not immediately respond to Reuters’ requests for comment but state news agency WAM quoted a Ministry of Economy statement saying a draft law on commercial agencies was still in its legislative cycle and “it is still too early to give details”.

Resources for developing financial literacy at a young age to ensure entrepreneurship-led growth

Children and teens enter adulthood without knowing how to manage their resources properly. As a result, parents are the primary educators when it comes to teaching teenagers money management skills.

Saurabh Mukherjea’s argument on why conglomerates like RIL are not abusing their dominance

Saurabh Mukherjea, the founder and chief investment officer of Marcellus Investment Manager, has argued that in India, the public should not confuse a large market share for monopolistic practice.

Modi govt should reveal National Monetisation Pipeline objectives: Former FM Chidambaram

Chidambaram asked the government if provisions will be included in the invitation to bid (ITB) to ensure the monetisation process doesn’t create monopolies or duopolies in the sector.