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प्रश्न
What do you mean by homogeneous products?
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उत्तर
Homogeneous products refer to those products which are identical in all respects like quality, colour, size, design, brand name etc. The buyer does not distinguish the output of one firm from that of the other.
संबंधित प्रश्न
“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
Following is the feature of perfect competition:
'Homogeneous products' is a characteristic of ______.
A monopolist is price maker:
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 |
Which among the following is a feature of monopsony market?
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
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 |
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.
Give an example of oligopoly.
Define product differentiation.
What are selling costs?
Explain any four features of perfect competition.
Which type of market structure is the following? Give reason.
Ball-pen
In what respects does oligopoly differ from monopoly?
Name the characteristic which makes monopolistic competition different from perfect competition.
In which market form is there a single seller and no close substitutes for the product?
