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प्रश्न
Define product differentiation.
Define the following concept.
Product Differentiation
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उत्तर १
Product differentiation refers to differentiating the products on the basis of brand, size, color, shape, etc.
उत्तर २
According to Chamberlin, “A General class of product is differentiated if any sufficient basis exists for distinguishing the goods of one dealer from those of another. Such a basis may be real so long as it is of importance whatsoever to buyers and leads to a preference for any variety of the product over another”.
संबंधित प्रश्न
Explain three features of Perfect competitive market.
How is Perfect competitive market is different from a monopoly market?
Differentiated products is a characteristic of ______.
Why is there no need for selling cost under perfect competition?
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 of the following:
Market for toilet soaps in India.
Identify the market form for the following:
Textile industry in India.
Give an example of price discrimination.
Explain any four features of perfect competition.
Which type of market structure is the following? Give reason.
Mobile phone services
Which type of market structure is the following? Give reason.
Lipstick
Which type of market structure is the following? Give reason.
Ball-pen
Give two examples of a monopolistically competitive market.
What do you mean by homogeneous products?
What is meant by the term ‘price taker’?
What induces new firms to enter an industry?
In what respects does oligopoly differ from monopoly?
Mention one feature of a monopoly market.
Why do producers incur high selling costs in an imperfect market?
