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प्रश्न
Give two characteristics of perfect competition.
State two characteristics of perfect competition.
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उत्तर
- There are a very large number of buyers and sellers.
- Products sold by different sellers are homogenous.
- Firms are free to enter or exit the industry (or market).
- Buyers and sellers have perfect knowledge about the market conditions.
Notes
Students should refer to the answer according to their questions.
संबंधित प्रश्न
Selling costs are absent in perfect competition 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
Identify the market form for seller A on the basis of the following information:
| Units of output sold | Price offered by seller A in ₹ |
| 30 | 10 |
| 40 | 10 |
| 50 | 10 |
There are no substitute goods in a monopoly market. Give a reason to support your answer.
Identify the market form for the item given below:
A single seller
Which type of market structure is the following? Give reason.
Ball-pen
What is the effect on price when a monopoly firm tries to sell more?
What is the difference between perfect and imperfect oligopoly?
Which of the following is an example of a perfectly competitive market?
Which statement correctly describes monopsony?
