Advertisements
Advertisements
प्रश्न
Which one of the following is NOT found in a perfectly competition market?
पर्याय
Perfectly knowledge about the prevailing prices.
A large number of buyers and sellers.
Free entry into or exit from the industry.
Advertising by individual firms.
Advertisements
उत्तर
Advertising by individual firms.
Explanation:
In an entirely competitive marketplace, firms do not advertise since their products are homogeneous and there is no need to separate one from the other. Also, consumers are well aware of the products and costs; thus, advertising would be useless and ineffective.
APPEARS IN
संबंधित प्रश्न
Define Discriminating Monopoly.
Identify the market having a single buyer and many sellers from the following:
“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
Imperfect knowledge is a characteristic feature of:
Define perfect competition.
Mention two features of monopoly.
Identify the market form for the item given below:
A single seller
Which type of market structure is the following? Give reason.
Mobile phone services
What is meant by the term ‘price taker’?
Name the characteristic which makes monopolistic competition different from perfect competition.
