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प्रश्न
Following is not the feature of perfect competition:
विकल्प
Very large number of buyers and sellers
Homogeneous product
Free entry or exit of firms
Selling costs
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उत्तर
Selling costs
Explanation:
Under perfect competition, there are no selling costs since the items are homogeneous and the same across enterprises. Firms do not need to differentiate or sell their products because they are all the same, and consumers are well-informed.
संबंधित प्रश्न
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
A seller cannot influence the market price under:
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 |
Indian Oil Corporation Limited is an example of a/an ______.
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. | 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 |
Mention two features of monopoly.
Producers in a monopoly are price makers. Briefly explain.
Give two characteristics of perfect competition.
Highlight the importance of selling costs in a monopolistically compatible market.
Identify the market form for the following:
Perfectly elastic demand.
Identify the market form for the item given below:
Product differentiation
Product differentiation is practised in monopolistic competition? Give reasons.
Why can a monopolist charge different prices in different markets?
Name the market which has characteristics both of monopoly and perfect competition.
Why an individual firm under perfect competition cannot influence the market price?
In which market form is there a single seller and no close substitutes for the product?
