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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
The image above shows a departmental store of a market structure.
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- Discuss the features of this market form with respect to:
- Type of product
- Entry and exit of firms
- Selling cost
How is Perfect competitive market is different from a monopoly market?
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.
“While shopping for fruits in the local market you see many seller selling fruits”. In this context answer the following:
- What is the type of market referred to?
- State and draw the type of demand curve faced by the market above.
- Differentiate between the market indicated above and monopoly on the basis of:
- No. of sellers
- Market price
- Entry and exit of firms in the market
Following is not the feature of perfect competition:
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.
Which of these feature's is found in both a perfectly competitive market and a monopolistically competitive market?
Which among the following is a feature of monopsony market?
Pick the option which does not belong to the group.
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.
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
A holiday resort in a remote village is very popular among the tourists. Since the connectivity is very poor with the outer world, the owner employs the local villagers for the functioning of the resort.
This is a case of:
Define monopolistic competition.
Give an example of oligopoly.
Define product differentiation.
Why is there no need for selling cost under perfect competition?
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Market for toilet soaps in India.
Identify the market form for the following:
Railways in India.
Identify the market form for the following:
Perfectly elastic demand.
State the market form of the following commodity.
Automobiles
State the market form of the following commodity.
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Identify the market form for the item given below:
A single buyer
Explain the main characteristics of a monopoly.
Which type of market structure is the following? Give reason.
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Which type of market structure is the following? Give reason.
Scooters
Which type of market structure is the following? Give reason.
Mobile phone services
Which type of market structure is the following? Give reason.
Ball-pen
Why can a monopolist charge different prices in different markets?
To which market form are homogeneous products relevant?
What is the difference between perfect and imperfect oligopoly?
Name the market which has characteristics both of monopoly and perfect competition.
Identify the market form from the following.
Perfect knowledge
What is a price making firm?
In which market form is there a single seller and no close substitutes for the product?
Which feature best distinguishes monopolistic competition from perfect competition?
Which statement correctly describes monopsony?
