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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-OLIGOPOLY

OLIGOPOLY COMPETITION

Meaning of Oligopoly :Oligopoly is the market situation with a few seller who competes with each other. It is a form of imperfect competition in which there are only a few firms in the industry producing either an homogenous product or producing close substitutes for one another. The number of firms is more than one but is not so large that any one seller be in position to take decisions regarding his price,output,product.

Features of Oligopoly
a)Small number of big firms :Oligopoly market is the one in which a small number of big firms dominate the market for products.There is high degree of market concentration.
b)Degree of interdependence:In Oligopoly,each firm is so big in size that quite often iy has global presence ,selling its product across all parts of the world. There is very high degree of interdependence among the rival firms with regard to their price and output policy.Price and output of one firm depends on reaction of rival firms in the market .
c) Demand's curve: It is not possible to determine firm's demand curve under Oligopoly because no specific relationship can be established between output and price.Thus, when firm lower its price,the demand for its product may not increase because rival firms may lower the price proportionately greater.
d)Entry barriers :There are various barriers to the entry and exist of the firm.these are created largely through patent rights and are almost similar to those under monopoly.Because of these barriers ,the existing firms are worried about possible erosion of demand in the near future.They continue to earn extra normal profits in long run also.
Patent rights are the official recognition of innovators of new product.These are related to some innovative product or innovative technology which cannot be copied by others.Such rights deter the entry of new firms.
e)Non-Price competition :Under Oligopoly,firms tend to avoid Price comprehensive .Instead,they tries to focus on Non-Price competition.
f)Formation of cartels : Oligopoly firms also forms cartels . A cartels are a formal agreement among the firms to collude and avoid competition. Collectively they try to earn monopoly profits  .Under it, output and pricew are fixed by various firms as a group sometimes leading firm in the market is accepted by cartel as pricé leader . 

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