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प्रश्न
Give three points of difference between perfect competition and monopoly.
Discuss three differences between a perfectly competitive market and a monopoly.
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उत्तर
| Sr. No. | Basis | Perfect competition | Monopoly |
| 1. | No. of sellers | There are very large number of sellers in the market. | There is a single firm in the market. |
| 2. | Price | There is a single firm in the market. | There is a single firm in the market. |
| 3. | Nature of product | Each firm produces and sells homogeneous product. | The firm produces and sells such product which does not have close substitutes in the market. |
Notes
Students should refer to the answer according to their questions.
संबंधित प्रश्न
'A few big sellers' is a characteristic of ______.
There is no difference between perfect competition and pure competition.
Which of these feature's is found in both a perfectly competitive market and a monopolistically competitive market?
State the advantage of monopolistic competition over monopoly.
Identify the market form for the following:
Perfectly elastic demand.
Identify the market form for the item given below:
Product differentiation
In which form of market do producers and consumers have perfect knowledge about the market conditions?
Name the market which has characteristics both of monopoly and perfect competition.
Identify the market form from the following.
Firm is a price maker.
There are a large number of buyers and sellers under a ______ market.
