Advertisements
Advertisements
प्रश्न
Why is there no need for selling cost under perfect competition?
Name a market where selling cost is not required. Give a reason for your answer.
Why are selling costs not incurred in perfect competition?
Advertisements
उत्तर
Selling costs are not incurred in perfect competition as there exists perfect knowledge among the buyers and sellers of homogeneous products.
APPEARS IN
संबंधित प्रश्न
Explain three features of Perfect competitive market.
Selling costs are absent in perfect competition market.
“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
Pick the option which does not belong to the group.
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.
Imperfect knowledge is a characteristic feature of:
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:
What is meant by pure competition?
Identify the market form for the following:
Telecom industry in India.
State the market form of the following commodity.
Fighter Aircrafts
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 price discrimination.
Explain the main characteristics of a monopoly.
Discuss any four differences between monopoly and monopolistic competition.
What does perfectly elastic demand curve faced by a competitive firm indicate?
Mention one feature of a monopoly market.
