Goyal Brothers Prakashan solutions for Economics [English] Class 10 ICSE chapter 5 - Meaning and Types of Markets [Latest edition]

Following is the feature of perfect competition:

Following is not the feature of perfect competition:

'Homogeneous products' is a characteristic of ______.

Differentiated products is a characteristic of ______.

'A few big sellers' is a characteristic of ______.

Marginal revenue of a firm is constant throughout under:

A seller cannot influence the market price under:

In monopolistic competition, there are ______.

Identify the feature of monopoly market from the following:

Indian Railways is an example of ______.

Identify the market form for telecom industry in India.

______ is relevant to perfect competition.

Which of the following is an example of oligopoly in India?

There is inverse relation between price and demand for the product of a firm under ______.

A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.

The following diagram represents the demand curve of a firm under ______.

In which market form, marginal revenue is equal to price?

The following diagram represents the demand curve of a firm under ______.

There are a few large firms under ______.

A ______ firm can sell the same product at different prices to different buyers.

Under a monopoly market, a firm/seller has ______.

Homogeneous products are sold under ______.

There are a large number of buyers and sellers under a ______ market.

Oligopoly is a market situation in which there are only a ______ sellers in the industry.

______ is essential for a market to be called as perfect competition.

A differentiated product has ______.

______ goods refer to those products which are identical in quality, shape, size, color, etc.

In which market form is the firm a price taker?

Which of the following describes a monopoly firm?

Which of the following market types has a large number of firms that sell similar but slightly different products?

Firms under ______ are free to enter or leave the industry any time.

Define the term market.

What is perfect competition?

What is meant by pure competition?

Mention two features of monopoly.

Producers in a monopoly are price makers. Briefly explain.

There are no substitute goods in a monopoly market. Give a reason to support your answer.

Mention one feature of a monopoly market.

Explain any four features of perfect competition.

Define monopolistic competition.

What is meant by oligopoly?

Give an example of oligopoly. 

Give two examples of monopolistically competitive market.

Give two reasons why monopolistic competition is the most realistic form of a market.

Explain any four features of perfect competition.

Mention two features of monopoly.

Discuss any two features of a monopolistically competitive market.

What is meant by product differentiation?

To which market is product differentiation relevant?

What are selling costs?

Why is there no need for selling cost under perfect competition?

In which form of market is the seller a price taker? Justify your answer. 

Identify the market form of the following:

The Government of India is the sole buyer of fighter aircrafts.

Identify the market form of the following:

Goods sold are homogeneous.

Identify the market form of the following:

Motor car market in India.

Identify the market form of the following:

Market for toilet soaps in India.

Identify the market form for the following:

Railways in India.

Identify the market form for the following:

Textile industry in India.

Identify the market form for the following:

Perfectly elastic demand.

Identify the market form for the following:

Telecom industry in India.

State the market form of the following commodity.

Railways 

State the market form of the following commodity.

Automobiles

State the market form of the following commodity.

Shampoos

State the market form of the following commodity.

Fighter Aircrafts

Identify the market form for the item given below:

A single seller

Identify the market form for the item given below:

Homogeneous goods

Identify the market form for the item given below:

Product differentiation

Identify the market form for the item given below:

A single buyer

Why do producers incur high selling costs in an imperfect market?

State the similarities between monopolistic competition and monopoly. 

In which form of market do producers and consumers have perfect knowledge about the market conditions?

State two dissimilarities between Monopolistic competition and Perfect competition.

What is meant by 'market' in economics?

Discuss the characteristics of a market.

What is perfect competition?

Explain any four features of perfect competition.

Define monopoly.

Mention two features of monopoly.

What is perfect competition?

Discuss three differences between a perfectly competitive market and a monopoly.

Define monopoly.

Discuss any four differences between monopoly and monopolistic competition.

Define monopolistic competition.

Discuss any two features of a monopolistically competitive market.

Define monopoly.

Discuss any four differences between monopoly and monopolistic competition.

Explain any four factors that lead to the emergence of monopoly.

Explain the following feature of perfect competition:

Large number of buyers and sellers

Explain the following feature of perfect competition:

Homogeneous products

Product differentiation is practised in monopolistic competition? Give reasons.

Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.

Explain any two similarities between a perfect market and a monopolistically competitive market.

State two dissimilarities between Monopolistic competition and Perfect competition.

With the help of an example explain the meaning of price discrimination. 

To which market is price discrimination relevant?

Explain any two similarities between a perfect market and a monopolistically competitive market.

Define monopolistic competition.

Give two examples of monopolistically competitive market.

Discuss any two features of a monopolistically competitive market.

Explain any two similarities between a perfect market and a monopolistically competitive market.

State two dissimilarities between Monopolistic competition and Perfect competition.

Define the term market.

What is perfect competition?

What is meant by pure competition?

Define monopoly.

Give an example of monopoly.

Define monopolistic competition.

Give two examples of monopolistically competitive market.

Name the characteristic which makes monopolistic competition different from perfect competition.

What do you mean by homogeneous products?

To which market form are homogeneous products relevant? 

What is meant by product differentiation?

To which market is product differentiation relevant?

What is meant by the term 'price taker'?

Under which market form firm is price taker?

What is a price making firm?

Why an individual firm under perfect competition cannot influence the market price?

Which market form has the least number of producers?

What induces new firms to enter an industry?

What is meant by barriers to entry?

What is the effect on price when a perfectly competitive firm tries to sell more?

What is the effect on price when a monopoly firm tries to sell more?

What is meant by oligopoly?

Give an example of oligopoly. 

What is the difference between perfect and imperfect oligopoly?

Explain any four features of perfect competition.

Explain any two similarities between a perfect market and a monopolistically competitive market.

State the similarities between monopolistic competition and monopoly. 

Producers in a monopoly are price makers. Briefly explain.

What do you mean by price discrimination?

To which market is price discrimination relevant?

In which market form are goods sold at a uniform price?

Why is there no need for selling cost under perfect competition?

Name the market which has characteristics both of monopoly and perfect competition. 

Give two reasons why monopolistic competition is the most realistic form of a market.

What are selling costs?

Why are selling costs incurred?

Explain any four features of perfect competition.

Mention two features of monopoly.

Discuss any two features of a monopolistically competitive market.

State the advantage of monopolistic competition over monopoly. 

Why is the demand curve under monopoly less elastic as compared to the demand curve under monopolistic competition?

What does perfectly elastic demand curve faced by a competitive firm indicate?

Explain any four features of perfect competition.

Mention two features of monopoly.

Discuss any two features of a monopolistically competitive market.

Explain any two similarities between a perfect market and a monopolistically competitive market.

State two dissimilarities between Monopolistic competition and Perfect competition.

Discuss three differences between a perfectly competitive market and a monopoly.

Discuss any four differences between monopoly and monopolistic competition.

State two dissimilarities between Monopolistic competition and Perfect competition.

What is meant by oligopoly?

In what respects does oligopoly differ from monopoly? 

Identify the market form from the following.

Firm is a price maker. 

Identify the market form for the item given below:

Product differentiation

Identify the market form from the following.

Price discrimination

Identify the market form from the following.

Perfect knowledge

Identify the market form from the following:

A few large sellers

Elaborate the price discrimination feature of monopoly.