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प्रश्न
'Homogeneous products' is a characteristic of ______.
विकल्प
Perfect competition only
Pure oligopoly only
Both Perfect competition only and Pure oligopoly only
None of the above
उत्तर
'Homogeneous products' is a characteristic of perfect competition only and pure oligopoly only.
Explanation:
Perfect competition and pure oligopoly both produce homogeneous products. In perfect competition, all businesses sell the same things with no differentiation. Similarly, in a true oligopoly, the few firms in the market provide similar products, with little difference between the items offered by different enterprises.
संबंधित प्रश्न
How is Perfect competitive market is different from a monopoly market?
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.
Which of the following statements are true?
- Monopolistically competitive markets have high selling costs.
- Monopolistically competitive markets sell homogeneous goods.
- Any firm can start a business in a monopolistically competitive market.
Which of the following market types has the fewest number of firms?
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:
Match the following:
| Column I | Column II | ||
| A. | Demand curve under perfect competition | (i) | Indeterminate demand curve |
| B. | Demand curve under monopoly | (ii) | Downward sloping but less elastic |
| C. | Demand curve under monopolistic competition | (iii) | Horizontal straight line |
| D. | Demand curve under oligopoly | (iv) | Elastic demand curve |
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 perfect competition?
Mention two features of monopoly.
There are no substitute goods in a monopoly market. Give a reason to support your answer.
What is meant by oligopoly?
Highlight the importance of selling costs in a monopolistically compatible market.
Which type of market structure is the following? Give reason.
Scooters
Which type of market structure is the following? Give reason.
Ball-pen
What do you mean by homogeneous products?
In what respects does oligopoly differ from monopoly?
Elaborate the price discrimination feature of monopoly.
Identify the market form from the following.
Price discrimination
Why are selling costs incurred?
