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प्रश्न
"The price of a product under perfect competition is determined by an individual seller."
पर्याय
True
False
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उत्तर
This statement is False.
Explanation:
Under perfect competition, an individual seller does not determine the price of a product. Instead, the price is set by market forces such as supply and demand. Individual sellers are price takers, meaning they must accept the market price and cannot change it independently.
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संबंधित प्रश्न
'A few big sellers' is a characteristic of ______.
In monopolistic competition, there are ______.
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | (A) | Oligopoly |
| (ii) | Less elastic demand | (B) | Monopolistic competition |
| (iii) | More elastic demand | (C) | Perfect competition |
| (iv) | Indeterminate demand | (D) | Monopoly |
Give an example of oligopoly.
Name the market in which there is a single buyer and many sellers. Give an example.
Give an example of monopoly.
Which type of market structure is the following? Give reason.
Trucks
Which type of market structure is the following? Give reason.
Ball-pen
To which market is price discrimination relevant?
What is the difference between collusive and non-collusive oligopoly?
