Advertisements
Advertisements
प्रश्न
The firm under perfect competition is a ______.
पर्याय
Price maker
Price taker
Price stabilizer
Price controller
Advertisements
उत्तर
The firm under perfect competition is a price taker.
Explanation:
The ideal competition there are so many buyers and sellers that a firm produces such a small portion of overall output that a change in output has no discernible influence on market supply and thus on commodity prices. A competitive corporation lacks market strength and hence cannot influence price. In perfect competition, a firm is thus a price taker.
संबंधित प्रश्न
The products which are identical in design, shape quality, size, colour, packing, etc. are ______.
Define the term oligopoly market.
What are inferior goods?
How can we define the term 'market' in economics?
A market is a mechanism through which ______ are exchanged.
Discuss the characteristics of a market.
Which statement best explains the meaning of a market in economics?
In which type of definition of 'market' is the main focus on the place or area where buying and selling occur?
Why can an online book platform be called a market in economics?
What does “unity of price” in a market mainly mean?
