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प्रश्न
Give three points of difference between perfect competition and monopoly.
Discuss three differences between a perfectly competitive market and a monopoly.
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उत्तर
| Sr. No. | Basis | Perfect competition | Monopoly |
| 1. | No. of sellers | There are very large number of sellers in the market. | There is a single firm in the market. |
| 2. | Price | There is a single firm in the market. | There is a single firm in the market. |
| 3. | Nature of product | Each firm produces and sells homogeneous product. | The firm produces and sells such product which does not have close substitutes in the market. |
Notes
Students should refer to the answer according to their questions.
संबंधित प्रश्न
Following is the feature of perfect competition:
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 : ______
Pick the option which does not belong to the group.
Mention two features of monopoly.
Give an example of monopsony.
In which form of market is the seller a price taker? Justify your answer.
Identify the market form of the following:
Motor car market in India.
With the help of an example explain the meaning of price discrimination.
To which market form are homogeneous products relevant?
Identify the market form from the following.
Perfect knowledge
