MONOPOLY: Monopoly means existence of single producer
or seller for a product or service where, there are no close substitutes. This
is same in the case of Indian Railway, it is run by Indian Government, non-other
provide this service in India. So, Indian railway enjoy the monopoly.
ECONOMIES OF SCOPE:
Indian Railway look forward into other sectors, they recently started Catering
service to corporate that runs in a good level, they also run tourism services
to passengers, parking lot operations.
MARKET SEGMENT FACED
PRICE DISCRIMINATION: Indian Railway as fixed different rates according to
age category. Such as, for kids under 3 years are free to travel, Senior
Citizen gets special concession in their ticket rate, but the normal charge is
followed by all others.
ECONOMICS OF SCALE:
For Railway, the investment is made only ones for laying of tracks and purchasing
of trains but ones it start running it starts making money where more the
number of passengers using railway
PEOPLE FACE TRADE-OFF:
People can choose other mode of transportation other than using railway for
travelling or sending goods. But most of them prefer Railway because of the
benefits they get from using railway, such as reduction of cost, trustworthy
etc.
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