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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
Discuss any two features of a monopolistically competitive market.
Which two forms of market earn normal profit in the long run?
Identify the market having a single buyer and many sellers from the following:
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
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
How is Perfect competitive market is different from a monopoly market?
Justify the following statement with any two valid arguments. 'In a perfect competition market structure, an individual firm does not have any role in determining price’.
Selling costs are absent in perfect competition market.
Following is not the feature of perfect competition:
'Homogeneous products' is a characteristic of ______.
Marginal revenue of a firm is constant throughout under:
In monopolistic competition, there are ______.
Indian Railways is an example of ______.
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.
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.
Which of these feature's is found in both a perfectly competitive market and a monopolistically competitive 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.
Imperfect knowledge is a characteristic feature of:
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
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.
What is meant by pure competition?
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.
Define monopolistic competition.
Give an example of monopsony.
State two important characteristics of monopoly.
Define product differentiation.
To which market is product differentiation relevant?
State the advantage of monopolistic competition over monopoly.
Why is there no need for selling cost under perfect competition?
Identify the market form of the following:
The Government of India is the sole buyer of fighter aircrafts.
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:
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.
Shampoos
Identify the market form for the item given below:
Homogeneous goods
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?
Define monopoly.
Give an example of monopoly.
Give an example of price discrimination.
Which type of market structure is the following? Give reason.
Mobile phone services
Which type of market structure is the following? Give reason.
Lipstick
Which type of market structure is the following? Give reason.
Soft drinks
With the help of an example explain the meaning of price discrimination.
To which market is price discrimination relevant?
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 is the difference between collusive and non-collusive oligopoly?
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:
A few large sellers
There are a large number of buyers and sellers under a ______ market.
Name the characteristic which makes monopolistic competition different from perfect competition.
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?
In which type of market are firms interdependent and a few large firms dominate?
