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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
In monopolistic competition, there are ______.
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 : ______
Read the following statements carefully and choose the correct alternative:
Assertion (A): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker under perfect competition.
Give an example of monopsony.
Identify the market form of the following:
Market for toilet soaps in India.
Give an example of price discrimination.
Which type of market structure is the following? Give reason.
Lipstick
Which type of market structure is the following? Give reason.
Ball-pen
Identify the market form from the following.
Price discrimination
There are a large number of buyers and sellers under a ______ market.
