Goyal Brothers Prakashan solutions for इकॉनॉमिक्स [अंग्रेजी] कक्षा १० आईसीएसई chapter 5 - Meaning and Types of Markets [Latest edition]

Following is the feature of perfect competition:

Following is not the feature of perfect competition:

'Homogeneous products' is a characteristic of ______.

Differentiated products is a characteristic of ______.

'A few big sellers' is a characteristic of ______.

Marginal revenue of a firm is constant throughout under:

A seller cannot influence the market price under:

In monopolistic competition, there are ______.

Identify the feature of monopoly market from the following:

Indian Railways is an example of ______.

Identify the market form for telecom industry in India.

______ is relevant to perfect competition.

Which of the following is an example of oligopoly in India?

There is inverse relation between price and demand for the product of a firm under ______.

A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.

The following diagram represents the demand curve of a firm under ______.

In which market form, marginal revenue is equal to price?

The following diagram represents the demand curve of a firm under ______.

There are a few large firms under ______.

A ______ firm can sell the same product at different prices to different buyers.

Under a monopoly market, a firm/seller has ______.

Homogeneous products are sold under ______.

There are a large number of buyers and sellers under a ______ market.

Oligopoly is a market situation in which there are only a ______ sellers in the industry.

______ is essential for a market to be called as perfect competition.

A differentiated product has ______.

______ goods refer to those products which are identical in quality, shape, size, color, etc.

In which market form is the firm a price taker?

Which of the following describes a monopoly firm?

Which of the following market types has a large number of firms that sell similar but slightly different products?

Firms under ______ are free to enter or leave the industry any time.

Which market structure has only one seller?

The firm under perfect competition is a ______.

In perfect competition the sellers are selling ______ products.

______ market has one seller and many buyers.

With reference to Perfect competition form of market, choose the odd one out.

Maruti, Tata and Hyundai are examples of which form of market?

The State Electricity Board sells electricity at cheaper rates for domestic use than for commercial use. Given statement shows an act of ______.

Identify the type of market structure represented by the visuals.

In perfect competition the sellers are selling ______ products.

On the basis of given characteristics in the following image Identify the market form?

Which market structure has the least number of sellers?

Which of the following market structures has the maximum number of sellers?

Study the relationship in the first pair and complete second pair:

Assertion (A): A monopoly firm is price taker.

Reason (R): In the monopoly market, there is only a single seller.

Assertion (A): A competitive firm demand curve is downward sloping.

Reason (R): A individual firm under perfect competition has no control over price.

Assertion (A): Under monopolistic competition the consumers have the preference of choosing one product over another.

Reason (R): The sellers can charge a marginally higher price since they may enjoy some market price.

Assertion (A): Toothpaste is an example of monopolistic competition.

Reason (R): The different brands of toothpaste are similar but slightly differentiated in terms of taste and flavours.

Statement (1): Perfect competition is a hypothetical market situation.

Statement (2): Under perfect competition, the government decides the prices of the products and services.

Assertion (A): The cellular industry is an example of monopolistic competition.

Reason (R): In the cellular industry, there are 3-5 dominant firms (Airtel, Vodafone, Jio etc.)

Statement (1): In monopoly, there is only one seller and many buyers.

Statement (2): Under perfect competition, firms are free to exit and enter the market at any point of time.

Statement (1): Google is an example of monopoly market.

Statement (2): Cell phone is an example of monopoly market.

Define the term market.

What is meant by Perfect competition?

What is meant by pure competition?

Mention two features of monopoly.

Producers in a monopoly are price makers. Briefly explain.

There are no substitute goods in a monopoly market. Give a reason to support your answer.

Mention one feature of a monopoly market.

Explain any four features of perfect competition.

Define monopolistic competition.

Explain the following term/concept in detail.

Oligopoly

Give an example of oligopoly. 

Define the term oligopoly market.

Give two examples of a monopolistically competitive market.

Give two reasons why monopolistic competition is the most realistic form of a market.

Explain any four features of perfect competition.

Mention two features of monopoly.

Discuss any two features of a monopolistically competitive market.

Explain the following concept.

Product Differentiation

To which market is product differentiation relevant?

What are selling costs?

Why is there no need for selling cost under perfect competition?

In which form of market is the seller a price taker? Justify your answer. 

Identify the market form of the following:

The Government of India is the sole buyer of fighter aircrafts.

Identify the market form of the following:

Goods sold are homogeneous.

Identify the market form of the following:

Motor car market in India.

Identify the market form of the following:

Market for toilet soaps in India.

Identify the market form for the following:

Railways in India.

Identify the market form for the following:

Textile industry in India.

Identify the market form for the following:

Perfectly elastic demand.

Identify the market form for the following:

Telecom industry in India.

State the market form of the following commodity.

Railways 

State the market form of the following commodity.

Automobiles

State the market form of the following commodity.

Shampoos

State the market form of the following commodity.

Fighter Aircrafts

Identify the market form for the item given below:

A single seller

Identify the market form for the item given below:

Homogeneous goods

Identify the market form for the item given below:

Product differentiation

Identify the market form for the item given below:

A single buyer

Why do producers incur high selling costs in an imperfect market?

State the similarities between monopolistic competition and monopoly. 

In which form of market do producers and consumers have perfect knowledge about the market conditions?

State two dissimilarities between Monopolistic competition and Perfect competition.

What is the implication of ‘restricted entry of new firms’ in a monopoly market?

What is meant by 'market' in economics?

Discuss the characteristics of a market.

How can we define the term 'market' in economics?

Define perfect competition.

Explain any four features of perfect competition.

“Under which type of a market are producers price takers?” Explain its three characteristics.

What is meant by Perfect competition?

Explain any four features of perfect competition.

Define monopoly.

Mention two features of monopoly.

Define perfect competition.

Discuss three differences between a perfectly competitive market and a monopoly.

What is meant by a monopoly market?

Discuss any four differences between monopoly and monopolistic competition.

What is monopolistic competition?

Discuss any two features of a monopolistically competitive market.

Define monopoly.

Discuss any four differences between monopoly and monopolistic competition.

Explain any four factors that lead to the emergence of monopoly.

Explain the following feature of perfect competition:

Large number of buyers and sellers

Explain the following feature of perfect competition:

Homogeneous products

Product differentiation is practised in monopolistic competition? Give reasons.

Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.

Explain two similarities between a Perfect market and an Imperfect market.

State two dissimilarities between Monopolistic competition and Perfect competition.

With the help of an example explain the meaning of price discrimination. 

To which market is price discrimination relevant?

Explain any two similarities between a perfect market and a monopolistically competitive market.

Define monopolistic competition.

Give two examples of a monopolistically competitive market.

Discuss any two features of a monopolistically competitive market.

Explain any two similarities between a perfect market and a monopolistically competitive market.

State two dissimilarities between Monopolistic competition and Perfect competition.

Mention any three features of an oligopoly market.

Identify and define the market structure depicted in the above image.

Give three differences between Perfect Competition Market and Oligopoly market.

Define perfect competition.

Explain any four features of perfect competition.

Define the term market.

Define perfect competition.

What is meant by pure competition?

Define monopoly.

Give an example of monopoly.

What is monopolistic competition?

Give two examples of a monopolistically competitive market.

Name the characteristic which makes monopolistic competition different from perfect competition.

What do you mean by homogeneous products?

To which market form are homogeneous products relevant? 

Define product differentiation.

To which market is product differentiation relevant?

What is meant by the term ‘price taker’?

Under which market form firm is price taker?

What is a price making firm?

Why an individual firm under perfect competition cannot influence the market price?

Which market form has the least number of producers?

What induces new firms to enter an industry?

What is meant by barriers to entry?

What is the effect on price when a perfectly competitive firm tries to sell more?

What is the effect on price when a monopoly firm tries to sell more?

Define oligopoly.

Give an example of oligopoly. 

What is the difference between perfect and imperfect oligopoly?

Explain any four features of perfect competition.

Explain any two similarities between a perfect market and a monopolistically competitive market.

State the similarities between monopolistic competition and monopoly. 

Producers in a monopoly are price makers. Briefly explain.

Explain the following concept:

Price discrimination

To which market is price discrimination relevant?

In which market form are goods sold at a uniform price?

Why is there no need for selling cost under perfect competition?

Name the market which has characteristics both of monopoly and perfect competition. 

Give two reasons why monopolistic competition is the most realistic form of a market.

What are selling costs?

Why are selling costs incurred?

Explain any four features of perfect competition.

Mention two features of monopoly.

Discuss any two features of a monopolistically competitive market.

State the advantage of monopolistic competition over monopoly. 

Why is the demand curve under monopoly less elastic as compared to the demand curve under monopolistic competition?

What does perfectly elastic demand curve faced by a competitive firm indicate?

Explain any four features of perfect competition.

Mention two features of monopoly.

Discuss any two features of a monopolistically competitive market.

Explain any two similarities between a perfect market and a monopolistically competitive market.

State two dissimilarities between Monopolistic competition and Perfect competition.

Discuss three differences between a perfectly competitive market and a monopoly.

Discuss any four differences between monopoly and monopolistic competition.

State two dissimilarities between Monopolistic competition and Perfect competition.

Define oligopoly.

In what respects does oligopoly differ from monopoly? 

Identify the market form from the following.

Firm is a price maker. 

Identify the market form for the item given below:

Product differentiation

Identify the market form from the following.

Price discrimination

Identify the market form from the following.

Perfect knowledge

Identify the market form from the following:

A few large sellers

Elaborate the price discrimination feature of monopoly.

Mention any three features of an oligopoly market.

Differentiate between monopoly and monopsony.

Ram an employee and Shyam an elderly citizen was travelling by train from Delhi to Chennai separately. However, the cost of their tickets is different. Give reasons for the railways charging different prices to different customers.

What is the implication of ‘restricted entry of new firms’ in a monopoly market?

What is the difference between perfect competition and oligopoly?