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प्रश्न
Define product differentiation.
Define the following concept.
Product Differentiation
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उत्तर १
Product differentiation refers to differentiating the products on the basis of brand, size, color, shape, etc.
उत्तर २
According to Chamberlin, “A General class of product is differentiated if any sufficient basis exists for distinguishing the goods of one dealer from those of another. Such a basis may be real so long as it is of importance whatsoever to buyers and leads to a preference for any variety of the product over another”.
संबंधित प्रश्न
Identify the market having a single buyer and many sellers from the following:
Non-price competition is ______.
In which type of market price discrimination is practiced? Explain with an example.
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.
What is the shape of the demand curve faced by any monopoly firm? Support your answer with a diagram.
There is no difference between perfect competition and pure competition.
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 |
The seller in a monopoly market is a price maker.
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
State the advantage of monopolistic competition over monopoly.
Identify the market form of the following:
Market for toilet soaps in India.
State the market form of the following commodity.
Fighter Aircrafts
Identify the market form for the item given below:
Homogeneous goods
Define monopoly.
Give an example of price discrimination.
Which type of market structure is the following? Give reason.
Trucks
Which type of market structure is the following? Give reason.
Scooters
With the help of an example explain the meaning of price discrimination.
