LAND UTILIZATION Land is a scarce resource, whose supply is fixed for all practical purposes. At the same time, the demand for land for various competing purposes is continuously increasing with the increase in human population and economic growth.Land use pattern at any given time is determined by several factors including size of human and livestock population, the demand pattern, the technology in use, the cultural traditions, the location and capability of land, institutional factors like ownership pattern and rights scale regulation. Major Types of Land Utilization in India : As in all other countries, land in India is put to various uses. The utilization of land depends upon physical factors like topography, soil and climate as well as upon human factors such as the density of population, duration of occupation of the area,land tenure and technical levels of the people.There are spatial and temporal difference in land utilization due to the continued interplay of physical and
MONPOLISTIC FORM OF MARKET
Meaning of monopolistic competition : Monopolistic competition is found in the industry where there is large number of sellers , selling differentiated but close substitute goods. The firm has some freedom to fix its price. It has some monopoly and also faces competition from rivals.
Features of monopolístic competition
a)A large number of sellers : The number of sellers is sufficiently large that there is no feeling of mutual interdependence among them. Each firm acts independently without caring for any effect which it's action may have upon those of its competition.
b)Differentiated products:There is large number of buyers who are offered differentiated products and consequently have a preference for products of particular sellers. Different sellers use different methods for creating preference for their own product . It can be done by the differences in material used, design, colour, packaging, trade marks . These are the products which are not absolutely perfect substitutes but close substitute.
c) Unrestricted entry :Entry into the industry is unrestricted. New firms are able to commence production of very close substitute for existing brands of product even though they cannot make items which are exactly identical in eyes of purchasers of existing brand.
d)Non-Price competition:There are definite methods through which firms in the market try to win over customers or competing rivals other than in price. It may be in the form of gift scheme, sales services , free transport cost. All these methods are ways to attract customers .
e)Selling cost :Every firm tries to promote its own brand of product among the consumers through different types of expenditures on advertisement . The effect of these advertisement expenditures or selling cost may be to attach particular consumers to particular brands. In this way, firms with particular brand become monopolists of their brands in market.
f)Price -policy :The firm has price policy under this competition. In perfect competition , a firm is only a price -taker. It has no price policy of its own.
g)Imperfect knowledge :The existence of monopolistic competition depends upon imperfections in knowledge of buyers . Much of selling cost is simply meant to create superiority of brand over other brands. The products may really be same but consumers may come to know particular brand name more than others .
h)Lack of perfect mobility: Factors of production, goods and services lack perfect mobility. Accordingly, different prices prevail for same factor or for same product.
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