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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
Identify the market having a single buyer and many sellers from the following:
Which one of the following is NOT found in a perfectly competition market?
Producers in a monopoly are price makers. Briefly explain.
Give two characteristics of perfect competition.
State two important characteristics of monopoly.
Identify the market form of the following:
Motor car market in India.
With the help of an example explain the meaning of price discrimination.
In what respects does oligopoly differ from monopoly?
Why an individual firm under perfect competition cannot influence the market price?
Which statement correctly describes monopsony?
