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.
Which two forms of market earn normal profit in the long run?
Explain three features of Perfect competitive market.
Selling costs are absent in perfect competition market.
What is the shape of the demand curve faced by any monopoly firm? Support your answer with a diagram.
Following is the feature of perfect competition:
Following is not the feature of perfect competition:
Marginal revenue of a firm is constant throughout under:
In monopolistic competition, there are ______.
Indian Railways is an example of ______.
A monopolist is price maker:
Indian Oil Corporation Limited is an example of a/an ______.
There is no difference between perfect competition and pure competition.
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 : ______
Which among the following is a feature of monopsony market?
Pick the option which does not belong to the group.
Which of the following statements are true?
- Monopolistically competitive markets have high selling costs.
- Monopolistically competitive markets sell homogeneous goods.
- Any firm can start a business in a monopolistically competitive market.
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
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.
Which of the following is the least competitive market?
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): 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.
Define oligopoly.
Give an example of oligopoly.
Define monopsony.
Give an example of monopsony.
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:
Goods sold are homogeneous.
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:
Telecom industry in India.
State the market form of the following commodity.
Automobiles
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:
A single buyer
In which form of market do producers and consumers have perfect knowledge about the market conditions?
Give an example of price discrimination.
Explain any four features of perfect competition.
Explain the main characteristics of a monopoly.
Discuss any four differences between monopoly and monopolistic competition.
Which type of market structure is the following? Give reason.
Trucks
Which type of market structure is the following? Give reason.
Jeans
Which type of market structure is the following? Give reason.
Soft drinks
Which type of market structure is the following? Give reason.
Ball-pen
With the help of an example explain the meaning of price discrimination.
To which market is price discrimination relevant?
Give two examples of a monopolistically competitive market.
What do you mean by homogeneous products?
To which market form are homogeneous products relevant?
What induces new firms to enter an industry?
What is the difference between perfect and imperfect oligopoly?
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?
Elaborate the price discrimination feature of monopoly.
Identify the market form from the following.
Firm is a price maker.
Identify the market form from the following.
Price discrimination
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.
What is a price making firm?
Why an individual firm under perfect competition cannot influence the market price?
Why are selling costs incurred?
In which type of market are firms interdependent and a few large firms dominate?
