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प्रश्न
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.
विकल्प
Monopolistically competitive market
Perfectly competitive market
Monopoly
Monopsony
Oligopoly
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उत्तर
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is perfectly competitive market.
Explanation:
In a perfectly competitive market, homogeneous products are sold, with neither particular enterprises nor buyers controlling the price. The market's supply and demand structure decides the price, and all enterprises act as price takers.
संबंधित प्रश्न
Discuss any two features of a monopolistically competitive market.
Non-price competition is ______.
In which type of market price discrimination is practiced? Explain with an example.
Justify the following statement with any two valid arguments. 'In a perfect competition market structure, an individual firm does not have any role in determining price’.
“While shopping for fruits in the local market you see many seller selling fruits”. In this context answer the following:
- What is the type of market referred to?
- State and draw the type of demand curve faced by the market above.
- Differentiate between the market indicated above and monopoly on the basis of:
- No. of sellers
- Market price
- Entry and exit of firms in the market
A monopolist is price maker:
Imperfect knowledge is a characteristic feature of:
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
Read the following statements carefully and choose the correct alternative:
Assertion (A): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker under perfect competition.
Identify the market form of the following:
Goods sold are homogeneous.
State the market form of the following commodity.
Shampoos
Identify the market form for the item given below:
Product differentiation
Name the market in which there is a single buyer and many sellers. Give an example.
Which type of market structure is the following? Give reason.
Soft drinks
Product differentiation is practised in monopolistic competition? Give reasons.
Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.
Why can a monopolist charge different prices in different markets?
What does perfectly elastic demand curve faced by a competitive firm indicate?
Mention one feature of a monopoly market.
What is a price making firm?
