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प्रश्न
Which one of the following is NOT found in a perfectly competition market?
विकल्प
Perfectly knowledge about the prevailing prices.
A large number of buyers and sellers.
Free entry into or exit from the industry.
Advertising by individual firms.
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उत्तर
Advertising by individual firms.
Explanation:
In an entirely competitive marketplace, firms do not advertise since their products are homogeneous and there is no need to separate one from the other. Also, consumers are well aware of the products and costs; thus, advertising would be useless and ineffective.
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संबंधित प्रश्न
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’.
Following is not the feature of perfect competition:
'Homogeneous products' is a characteristic of ______.
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 : ______
State the advantage of monopolistic competition over monopoly.
Identify the market form for the following:
Railways in India.
Which type of market structure is the following? Give reason.
Mobile phone services
What is meant by barriers to entry?
What does perfectly elastic demand curve faced by a competitive firm indicate?
There are a large number of buyers and sellers under a ______ market.
