Advertisements
Advertisements
प्रश्न
To which market form are homogeneous products relevant?
In which market form are the products homogeneous?
Advertisements
उत्तर
In perfect competition, all firms sell homogeneous products that are perfect substitutes for each other.
APPEARS IN
संबंधित प्रश्न
The image above shows a departmental store of a market structure.
- Identify the form of market as observed from the above image.
- Discuss the features of this market form with respect to:
- Type of product
- Entry and exit of firms
- Selling cost
“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
'A few big sellers' is a characteristic of ______.
In monopolistic competition, there are ______.
There is no difference between perfect competition and pure competition.
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | (A) | Oligopoly |
| (ii) | Less elastic demand | (B) | Monopolistic competition |
| (iii) | More elastic demand | (C) | Perfect competition |
| (iv) | Indeterminate demand | (D) | Monopoly |
"The price of a product under perfect competition is determined by an individual seller."
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.
Which of these feature's is found in both a perfectly competitive market and a monopolistically competitive market?
Which of the following market types has the fewest number of firms?
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. | Monopoly | (i) | Availability of close substitutes |
| B. | Oligopoly | (ii) | Absence of close substitutes |
| C. | Perfect competition | (iii) | Few large sellers |
| D. | Monopolistic competition | (iv) | Homogeneous products |
Read the following statements carefully and choose the correct alternative:
Assertion (A): Price discrimination is possible under monopoly.
Reason (R): A monopolist can charge different prices in different markets because different sets of consumers - rich and poor - have different price elasticity of demand for the monopolist's product.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker under perfect competition.
What is meant by pure competition?
There are no substitute goods in a monopoly market. Give a reason to support your answer.
State two important characteristics of monopoly.
Define product differentiation.
What are selling costs?
State the advantage of monopolistic competition over monopoly.
Highlight the importance of selling costs in a monopolistically compatible market.
Identify the market form of the following:
Goods sold are homogeneous.
Identify the market form for the following:
Textile industry in India.
Identify the market form for the following:
Telecom industry in India.
State the market form of the following commodity.
Railways
Explain the main characteristics of a monopoly.
Which type of market structure is the following? Give reason.
Mobile phone services
Which type of market structure is the following? Give reason.
Jeans
Which type of market structure is the following? Give reason.
Ball-pen
Product differentiation is practised in monopolistic competition? Give reasons.
Give two examples of a monopolistically competitive market.
Identify the market form from the following.
Price discrimination
Identify the market form from the following:
A few large sellers
Why an individual firm under perfect competition cannot influence the market price?
Why are selling costs incurred?
Which of the following is an example of a perfectly competitive market?
In which market form is there a single seller and no close substitutes for the product?
