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प्रश्न
What is meant by the term ‘price taker’?
What is meant by price-taker?
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उत्तर
Price taker means that an individual firm has no option but to sell its product at a market-determined price.
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संबंधित प्रश्न
Which two forms of market earn normal profit in the long run?
Marginal revenue of a firm is constant throughout under:
In monopolistic competition, there are ______.
A monopolist is price maker:
Match the following and select the correct option:
| Column I | Column II | ||
| (i) | Perfect competition | (A) | Differentiated Products |
| (ii) | Monopoly | (B) | Few large firms |
| (iii) | Monopolistic Competition | (C) | Single seller |
| (iv) | Oligopoly | (D) | Homogeneous products |
There is no difference between perfect competition and pure competition.
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.
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 : ______
Which of these feature's is found in both a perfectly competitive market and a monopolistically competitive market?
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
Read the given statements carefully and select the correct option.
- The number of sellers under oligopoly are small.
- In monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions.
Which of the following market types has the fewest number of firms?
Match the following:
| Column I | Column II | ||
| A. | Monopoly | (i) | Availability of close substitutes |
| B. | Oligopoly | (ii) | Absence of close substitutes |
| C. | Perfect competition | (iii) | Few large sellers |
| D. | Monopolistic competition | (iv) | Homogeneous products |
Read the following statements carefully and choose the correct alternative:
Assertion (A): Buyers are ready to pay different prices for the product produced by different firms under perfect competition.
Reason (R): The products offered for sale in the perfect market are homogeneous.
Mention two features of monopoly.
Producers in a monopoly are price makers. Briefly explain.
Define product differentiation.
Identify the market form of the following:
Motor car market in India.
State the market form of the following commodity.
Railways
State the market form of the following commodity.
Fighter Aircrafts
Identify the market form for the item given below:
A single seller
Identify the market form for the item given below:
Product differentiation
Identify the market form for the item given below:
A single buyer
Give an example of price discrimination.
Explain any four features of perfect competition.
Which type of market structure is the following? Give reason.
Mobile phone services
Which type of market structure is the following? Give reason.
Jeans
With the help of an example explain the meaning of price discrimination.
Give two examples of a monopolistically competitive market.
To which market form are homogeneous products relevant?
What is meant by barriers to entry?
What is the difference between perfect and imperfect oligopoly?
There are a large number of buyers and sellers under a ______ market.
Name the characteristic which makes monopolistic competition different from perfect competition.
