Advertisements
Advertisements
प्रश्न
Distinguish between the following:
Perfect competition and Pure competition
How is perfect competition different from pure competition?
Give the differences between perfect competition and pure competition.
अंतर स्पष्ट करें
Advertisements
उत्तर
|
Sr. No.
|
Perfect Competition
|
Pure Competition
|
|
1.
|
Factors of production are perfectly mobile.
|
Factors of production are immobile and cannot move from one industry to another.
|
|
2.
|
Buyers and sellers have perfect knowledge about the prevailing market conditions.
|
Buyers and sellers have imperfect knowledge about the prevailing market conditions.
|
|
3.
|
The characteristics of perfect competition are quite stringent; hence, the existence of this market structure is a myth.
|
The characteristics of this market structure are comparatively liberal; hence, they can be found in the real world.
|
|
4.
|
Products are completely identical or homogeneous.
|
Products are homogeneous.
|
|
5.
|
Large number of buyer and sellar
|
Large number of sellers only is essential.
|
|
6.
|
There is free entry and exit of firms in the long run.
|
This market structure assumes freedom of entry and exit.
|
shaalaa.com
क्या इस प्रश्न या उत्तर में कोई त्रुटि है?
