Advertisements
Advertisements
प्रश्न
Define perfect competition.
Define a perfect market.
Define a perfectly competitive market.
Define perfect competition market.
Advertisements
उत्तर
Perfect competition is a form of market in which there are a large number of buyers and sellers and a homogeneous product is sold at a uniform price.
APPEARS IN
संबंधित प्रश्न
Discuss any two features of a monopolistically competitive market.
Define Discriminating Monopoly.
Identify the market having a single buyer and many sellers from the following:
Non-price competition is ______.
The image above shows a departmental store of a market structure.
- Identify the form of market as observed from the above image.
- Discuss the features of this market form with respect to:
- Type of product
- Entry and exit of firms
- Selling cost
Explain three features of Perfect competitive market.
How is Perfect competitive market is different from a monopoly market?
“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
'Homogeneous products' is a characteristic of ______.
Differentiated products is a characteristic of ______.
'A few big sellers' is a characteristic of ______.
Marginal revenue of a firm is constant throughout under:
A seller cannot influence the market price under:
Indian Railways is an example of ______.
Match the following and select the correct option:
| Column I | Column II | ||
| (i) | Perfect competition | (A) | Differentiated Products |
| (ii) | Monopoly | (B) | Few large firms |
| (iii) | Monopolistic Competition | (C) | Single seller |
| (iv) | Oligopoly | (D) | Homogeneous products |
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | (A) | Oligopoly |
| (ii) | Less elastic demand | (B) | Monopolistic competition |
| (iii) | More elastic demand | (C) | Perfect competition |
| (iv) | Indeterminate demand | (D) | Monopoly |
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.
Observe the relationship of the first pair of words and complete the second pair.
Single seller in the market : Monopoly
Single buyer in the market : ______
The seller in a monopoly market is a price maker.
Read the given statements carefully and select the correct option.
- The number of sellers under oligopoly are small.
- In monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions.
Imperfect knowledge is a characteristic feature of:
Which one of the following is NOT found in a perfectly competition market?
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
Match the following:
| Column I | Column II | ||
| A. | Monopoly | (i) | Availability of close substitutes |
| B. | Oligopoly | (ii) | Absence of close substitutes |
| C. | Perfect competition | (iii) | Few large sellers |
| D. | Monopolistic competition | (iv) | Homogeneous products |
Match the following:
| Column I | Column II | ||
| A. | Demand curve under perfect competition | (i) | Indeterminate demand curve |
| B. | Demand curve under monopoly | (ii) | Downward sloping but less elastic |
| C. | Demand curve under monopolistic competition | (iii) | Horizontal straight line |
| D. | Demand curve under oligopoly | (iv) | Elastic demand curve |
Read the following statements carefully and choose the correct alternative:
Assertion (A): Price discrimination is possible under monopoly.
Reason (R): A monopolist can charge different prices in different markets because different sets of consumers - rich and poor - have different price elasticity of demand for the monopolist's product.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Buyers are ready to pay different prices for the product produced by different firms under perfect competition.
Reason (R): The products offered for sale in the perfect market are homogeneous.
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.
What is meant by pure competition?
Mention two features of monopoly.
Give an example of oligopoly.
Define monopsony.
Give an example of monopsony.
Give two characteristics of perfect competition.
To which market is product differentiation relevant?
What are selling costs?
State the advantage of monopolistic competition over monopoly.
Highlight the importance of selling costs in a monopolistically compatible market.
In which form of market is the seller a price taker? Justify your answer.
Identify the market form of the following:
The Government of India is the sole buyer of fighter aircrafts.
Identify the market form of the following:
Motor car market in India.
Identify the market form of the following:
Market for toilet soaps in India.
Identify the market form for the following:
Railways in India.
Identify the market form for the following:
Textile industry in India.
Identify the market form for the following:
Perfectly elastic demand.
State the market form of the following commodity.
Shampoos
State the market form of the following commodity.
Fighter Aircrafts
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.
Explain any four features of perfect competition.
Which type of market structure is the following? Give reason.
Trucks
Which type of market structure is the following? Give reason.
Soft drinks
Product differentiation is practised in monopolistic competition? Give reasons.
With the help of an example explain the meaning of price discrimination.
To which market is price discrimination relevant?
To which market form are homogeneous products relevant?
What induces new firms to enter an industry?
What is meant by barriers to entry?
What is the effect on price when a perfectly competitive firm tries to sell more?
What is the difference between collusive and non-collusive oligopoly?
What does perfectly elastic demand curve faced by a competitive firm indicate?
In what respects does oligopoly differ from monopoly?
Identify the market form from the following.
Firm is a price maker.
Identify the market form from the following.
Perfect knowledge
Identify the market form from the following:
A few large sellers
There is inverse relation between price and demand for the product of a firm under ______.
There are a large number of buyers and sellers under a ______ market.
Mention one feature of a monopoly market.
Why do producers incur high selling costs in an imperfect market?
What is a price making firm?
Which of the following is an example of a perfectly competitive market?
In which market form is there a single seller and no close substitutes for the product?
In which type of market are firms interdependent and a few large firms dominate?
Which statement correctly describes monopsony?
