Advertisements
Advertisements
प्रश्न
What induces new firms to enter an industry?
Advertisements
उत्तर
Abnormal profit
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
Justify the following statement with any two valid arguments. 'In a perfect competition market structure, an individual firm does not have any role in determining price’.
Selling costs are absent in perfect competition market.
Indian Oil Corporation Limited is an example of a/an ______.
"The price of a product under perfect competition is determined by an individual seller."
Observe the relationship of the first pair of words and complete the second pair.
Single seller in the market : Monopoly
Single buyer in the market : ______
Which among the following is a feature of monopsony market?
Pick the option which does not belong to the group.
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): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker under perfect competition.
Define product differentiation.
Identify the market form of the following:
Motor car market in India.
Explain any four features of perfect competition.
Which type of market structure is the following? Give reason.
Trucks
Which type of market structure is the following? Give reason.
Soft drinks
With the help of an example explain the meaning of price discrimination.
In which type of market are firms interdependent and a few large firms dominate?
