Advertisements
Advertisements
Question
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 |
Options
(i) C, (ii) D, (iii) A, (iv) B
(i) D, (ii) C, (iii) B, (iv) A
(i) D, (ii) C, (iii) A, (iv) B
(i) C, (ii) D, (iii) B, (iv) A
Advertisements
Solution
(i) D, (ii) C, (iii) A, (iv) B
Explanation:
| Column I | Column II | ||
| (i) | Perfect competition | (D) | Homogeneous products |
| (ii) | Monopoly | (C) | Single seller |
| (iii) | Monopolistic Competition | (A) | Differentiated Products |
| (iv) | Oligopoly | (B) | Few large firms |
APPEARS IN
RELATED QUESTIONS
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
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.
There is no difference between perfect competition and pure competition.
Which among the following is a feature of monopsony market?
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.
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.
Identify the market form for the following:
Textile industry in India.
Explain any four features of perfect competition.
In what respects does oligopoly differ from monopoly?
Identify the market form from the following.
Firm is a price maker.
