FREE IGNOU BECC-132 SOLVED ASSIGNMENT 2023-24
IGNOU BECC-132 is a course under the Bachelor of Arts (BA) program offered by Indira Gandhi National Open University (IGNOU). To successfully complete the course and be eligible to appear for the exams in June 2024, students are required to submit the IGNOU BECC-132 SOLVED ASSIGNMENT 2023-24 for the academic year 2023-24.
Below are the details of the IGNOU BECC-132 SOLVED ASSIGNMENT 2023-24:
Assignments FOR JULY 2023 AND JAN 2024 ADMISSION
IGNOU BECC-132 SOLVED ASSIGNMENT 2023-24 Submission: Students are advised to submit the IGNOU BECC-132 SOLVED ASSIGNMENT 2023-24 as per the specified schedule. The assignments must be submitted in soft copy/PDF format through the designated portal or email, as instructed by the university.
Guidelines for Preparing IGNOU BECC-132 SOLVED ASSIGNMENT 2023-24: While preparing the IGNOU BECC-132 SOLVED ASSIGNMENT 2023-24, students must adhere to the following guidelines:
FREE IGNOU BECC-132 SOLVED ASSIGNMENT 2023-24 –
- Few Dominant Firms: In an oligopoly, there are only a few major firms that hold a substantial market share. These firms are interdependent in their decision-making and their actions directly affect each other’s performance.
- Mutual Interdependence: The actions of one firm in an oligopoly have a noticeable impact on its competitors. This interdependence arises because each firm’s market share and profitability depend not only on its own decisions but also on the decisions of its rivals. For example, a price reduction by one firm might lead others to follow suit, triggering a price war.
- Non-Price Competition: Due to the interdependent nature of oligopolistic competition, firms often engage in non-price competition. This involves efforts to differentiate products through branding, advertising, quality, customer service, and innovation. The aim is to create a unique selling proposition that distinguishes one firm’s products from its competitors.
- Barriers to Entry: Oligopolistic markets tend to have significant barriers to entry, which make it challenging for new firms to enter and compete. These barriers can include high startup costs, economies of scale enjoyed by existing firms, strong brand identity, and control over crucial resources.
- Price Rigidity: Oligopolists might exhibit price rigidity, meaning they are reluctant to change prices frequently. This is because price changes by one firm could trigger a chain reaction among competitors, leading to instability and uncertainty in the market.
- Collusion and Cartels: In some cases, firms in an oligopoly may collude to manipulate prices or restrict output in order to maximize joint profits. This can lead to the formation of cartels, which are agreements between firms to coordinate their actions. Cartels are often illegal and subject to antitrust regulations in many countries.
The emergence of an oligopolistic market structure can be attributed to several reasons:
- Economies of Scale: Industries where economies of scale are significant tend to have fewer firms dominating the market. As firms achieve economies of scale, they can produce more efficiently, leading to lower costs and potentially driving smaller competitors out of the market.
- High Entry Barriers: Industries with high entry barriers, such as high capital requirements or strong brand loyalty, discourage new firms from entering the market. This allows existing firms to maintain their dominance.
- Technological Advancements: Industries that require substantial research and development investments or access to advanced technology tend to have fewer players. Established firms with these resources have an advantage over potential entrants.
- Control over Scarce Resources: If a few firms have control over essential resources like raw materials or distribution networks, they can exert significant influence over the market and keep potential competitors at bay.
- Government Regulation: Sometimes, government regulations can lead to limited competition by imposing licensing requirements or restricting the number of firms in certain industries. This can unintentionally result in an oligopolistic market structure.
- Mergers and Acquisitions: Firms may merge or acquire competitors to consolidate their market power and reduce competition. This can lead to a concentration of market share among a few dominant players.
In summary, an oligopolistic market structure is characterized by a small number of dominant firms that interact in a complex web of interdependence. This structure emerges due to a combination of factors such as economies of scale, high entry barriers, technological advancements, control over resources, government regulations, and mergers/acquisitions.