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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
What is the shape of the demand curve faced by any monopoly firm? Support your answer with a diagram.
A seller cannot influence the market price under:
In monopolistic competition, there are ______.
"The price of a product under perfect competition is determined by an individual seller."
State two important characteristics of monopoly.
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 for the following:
Telecom industry in India.
What is a price making firm?
Why an individual firm under perfect competition cannot influence the market price?
