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प्रश्न
What is perfect competition?
Define perfect competition.
Define a perfect market.
Define a perfectly competitive market.
"Under which type of a market are producers price takers"?
उत्तर
Perfect competition is a form of market in which there are a large number of buyers and sellers and a homogeneous product is sold at a uniform price.
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संबंधित प्रश्न
What do you mean by price discrimination?
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
Following is not the feature of perfect competition:
'Homogeneous products' is a characteristic of ______.
'A few big sellers' is a characteristic of ______.
Which among the following is a feature of monopsony market?
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
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.
Why is there no need for selling cost under perfect competition?
Identify the market form of the following:
The Government of India is the sole buyer of fighter aircrafts.
State the market form of the following commodity.
Railways
State the market form of the following commodity.
Fighter Aircrafts
Give an example of monopoly.
Which type of market structure is the following? Give reason.
Trucks
Which type of market structure is the following? Give reason.
Mobile phone services
Which type of market structure is the following? Give reason.
Jeans
To which market is price discrimination relevant?
What is meant by barriers to entry?
What does perfectly elastic demand curve faced by a competitive firm indicate?
