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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
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.
To which market is product differentiation relevant?
Why is there no need for selling cost under perfect competition?
Highlight the importance of selling costs in a monopolistically compatible market.
Identify the market form for the following:
Perfectly elastic demand.
State the market form of the following commodity.
Shampoos
Identify the market form for the item given below:
A single buyer
With the help of an example explain the meaning of price discrimination.
Identify the market form from the following.
Firm is a price maker.
There is inverse relation between price and demand for the product of a firm under ______.
