Discussion
Match the items in List - I with items in List - II :
| List - I | List - II |
|---|---|
| (a) Technical Monopoly | (1) Gold and Silver |
| (b) Global Market | (2) Cartel |
| (c) Legal Monopoly | (3) Coca Cola |
| (d) Oligopoly | (4) Patent Rights |
Codes :
(a) (b) (c) (d)
Answer: A
The matching is Technical Monopoly with Coca Cola (3), Global Market with Gold and Silver (1), Legal Monopoly with Patent Rights (4) and Oligopoly with Cartel (2).
Coca Cola holds a monopoly through a secret technical formula. Gold and silver are traded in a world-wide market. A patent gives a legal monopoly by law, and a cartel is the formal agreement among a few firms in an oligopoly. Codes that give Patent Rights to a technical monopoly or put Coca Cola with the global market do not agree with these definitions.
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