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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
Which two forms of market earn normal profit in the long run?
'Homogeneous products' is a characteristic of ______.
Differentiated products is a characteristic of ______.
Pick the option which does not belong to the group.
Which of the following market types has the fewest number of firms?
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 |
Define perfect competition.
What are selling costs?
State the advantage of monopolistic competition over monopoly.
Identify the market form of the following:
Goods sold are homogeneous.
Identify the market form of the following:
Motor car market in India.
State the market form of the following commodity.
Shampoos
Identify the market form for the item given below:
A single seller
Identify the market form for the item given below:
A single buyer
In which form of market do producers and consumers have perfect knowledge about the market conditions?
Name the market in which there is a single buyer and many sellers. Give an example.
Which type of market structure is the following? Give reason.
Jeans
What induces new firms to enter an industry?
Identify the market form from the following.
Price discrimination
Identify the market form from the following:
A few large sellers
