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Land utilisation

  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 phys...
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FORMS OF MARKET-MONOPOLY

MEANING AND FEATURES OF MONOPOLY
Meaning of Monopoly : The word Monopoly is a Latin word . It is composed of two words -Mono which means single and poly which means seller. Thus, Monopoly is a form of market organisation for a commodity in which there is only one seller of the commodity. There is no close substitute for commodity sold by only seller and seller has full control over the supply of the commodity . Thus , the seller is the price - maker.
Features of Monopoly
a)One seller and large number of buyers : A Monopolist may be single seller of one product , a few partners or in the form of joint stock company. The monopolist is the firm as well as industry. No one buyer can influence the price by his individual actions.
b)No close substitute: Monopoly can exist only when there is no close substitute of a commodity . If not so, the monopolist cannot charge a price according to his own desire and thus, cannot be a price-maker.
c)Restriction on entry of new firms : In a Monopoly, there is a strict barrier on the entry of new firms. Monopolist faces no competition.Generally,there are patent rights or control over a technique or raw material.
d)Informative selling costs:In monopoly, selling costs are incurred is the beginning . These are done to give information to the buyer's about the product .
e)Nature of demand curve :Here the aggregate demand of all buyers of product of monopolist is his demand. The demand curve of individual slopes downward from left to right and so is with the Monopoly .
f)Full control over price:Being a single seller of product, a monopolist has full control over its price. Thus, a monopolist is a price maker,. He can fix whatever price he wishes to fix for his product.
g)Price discrimination:A monopolist may charge different price from different buyers. It is called price discrimination. Price discrimination refers to the practice of changing different prices from different buyers for the same good. 

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