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प्रश्न
Give two characteristics of perfect competition.
State two characteristics of perfect competition.
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उत्तर
- There are a very large number of buyers and sellers.
- Products sold by different sellers are homogenous.
- Firms are free to enter or exit the industry (or market).
- Buyers and sellers have perfect knowledge about the market conditions.
Notes
Students should refer to the answer according to their questions.
संबंधित प्रश्न
Discuss any two features of a monopolistically competitive market.
Which two forms of market earn normal profit in the long run?
Explain three features of Perfect competitive market.
Firm A hires the services of Rohit Sharma to act as the Brand ambassador for its products X. Identify the nature of market for commodity X.
A monopolist is price maker:
In which form of market do producers and consumers have perfect knowledge about the market conditions?
Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.
Identify the market form from the following.
Firm is a price maker.
What is a price making firm?
Why are selling costs incurred?
