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प्रश्न
Define perfect competition.
Define a perfect market.
Define a perfectly competitive market.
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उत्तर
Perfect competition is a form of market in which there are a large number of buyers and sellers and a homogeneous product is sold at a uniform price.
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संबंधित प्रश्न
Which two forms of market earn normal profit in the long run?
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
Non-price competition is ______.
In which type of market price discrimination is practiced? Explain with an example.
The image above shows a departmental store of a market structure.
- Identify the form of market as observed from the above image.
- Discuss the features of this market form with respect to:
- Type of product
- Entry and exit of firms
- Selling cost
Explain three features of Perfect competitive market.
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.
What is the shape of the demand curve faced by any monopoly firm? Support your answer with a diagram.
Following is the feature of perfect competition:
'A few big sellers' is a characteristic of ______.
In monopolistic competition, there are ______.
Indian Railways is an example of ______.
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 |
"The price of a product under perfect competition is determined by an individual seller."
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 : ______
The seller in a monopoly market is a price maker.
Which of the following statements are true?
- Monopolistically competitive markets have high selling costs.
- Monopolistically competitive markets sell homogeneous goods.
- Any firm can start a business in a monopolistically competitive market.
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 one of the following is NOT found in a perfectly competition market?
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
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): Price discrimination is possible under monopoly.
Reason (R): A monopolist can charge different prices in different markets because different sets of consumers - rich and poor - have different price elasticity of demand for the monopolist's product.
Mention two features of monopoly.
Producers in a monopoly are price makers. Briefly explain.
There are no substitute goods in a monopoly market. Give a reason to support your answer.
Give three points of difference between perfect competition and monopoly.
Give an example of monopsony.
Give two characteristics of perfect competition.
Define product differentiation.
To which market is product differentiation relevant?
What are selling costs?
Why is there no need for selling cost under perfect competition?
Identify the market form of the following:
Goods sold are homogeneous.
Identify the market form of the following:
Motor car market in India.
Identify the market form of the following:
Market for toilet soaps in India.
Identify the market form for the following:
Railways in India.
Identify the market form for the following:
Textile industry 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.
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
In which form of market do producers and consumers have perfect knowledge about the market conditions?
Name the market in which there is a single buyer and many sellers.
Define monopoly.
Give an example of monopoly.
Explain the main characteristics of a monopoly.
Discuss any four differences between monopoly and monopolistic competition.
Which type of market structure is the following? Give reason.
Jeans
Which type of market structure is the following? Give reason.
Ball-pen
With the help of an example explain the meaning of price discrimination.
To which market is price discrimination relevant?
Give two examples of a monopolistically competitive market.
Why can a monopolist charge different prices in different markets?
What do you mean by homogeneous products?
Which market form has the least number of producers?
What is the difference between perfect and imperfect oligopoly?
What does perfectly elastic demand curve faced by a competitive firm indicate?
In what respects does oligopoly differ from monopoly?
Identify the market form from the following.
Firm is a price maker.
Identify the market form from the following.
Price discrimination
Identify the market form from the following.
Perfect knowledge
Identify the market form from the following:
A few large sellers
There is inverse relation between price and demand for the product of a firm under ______.
There are a large number of buyers and sellers under a ______ market.
Why do producers incur high selling costs in an imperfect market?
Name the characteristic which makes monopolistic competition different from perfect competition.
Why an individual firm under perfect competition cannot influence the market price?
Which of the following is an example of a perfectly competitive market?
In which market form is there a single seller and no close substitutes for the product?
Which statement correctly describes monopsony?
