Monopoly Power of Education Providers
When individual consumers lack complete information about education and health services:
- Prices automatically decrease
- Providers acquire monopoly power and are involved in exploitation — Correct Answer
- Quality automatically improves
- Government shuts down all providers
Explanation:
Correct Answer Explanation
Providers of education and health services acquire monopoly power and are involved in exploitation.
Key Points:
- Government's role is to ensure private providers adhere to standards.
- Also ensure they charge the correct price.
📚 About this Topic — CH-4: HUMAN CAPITAL FORMATION IN INDIA
This multiple choice question is from CH-4: HUMAN CAPITAL FORMATION IN INDIA, Indian Economic Development, NCERT Books. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-4: HUMAN CAPITAL FORMATION IN INDIA to strengthen your preparation.
