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Question
Homogeneous products are sold under ______.
Options
Oligopoly market
Monopoly market
Perfect competition
Monopolistic competition
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Solution
Homogeneous products are sold under perfect competition.
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RELATED QUESTIONS
What is meant by Perfect competition?
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
Complete the Correlation:
Price taker : ______ :: Price maker :: Monopoly.
Assertion (A): In perfect competition, price is determined by the forces of demand and supply.
Reasoning (R): The number of buyers and sellers is so large that one person can not influences prices.
State with reason whether you agree or disagree with the following statement:
The seller is a price taker in perfect competition.
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
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- Oligopoly
A differentiated product has ______.
______ goods refer to those products which are identical in quality, shape, size, color, etc.
Which feature ensures that buyers are indifferent between different sellers in perfect competition?
