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Chapters
2: Consumer's Behavior
3: Demand Analysis
4: Elasticity of Demand
5: Producer's Behaviour
▶ 6: Forms of Market and Price Determination Under Perfect Competition
7: Factors of Production
8: Introduction to Macro Economics
9: National Income
10: Determinants of Aggregates
11: Money
12: Commercial Banking
13: Central Banking
14: Public Economics
![Micheal Vaz solutions for Economics [English] 12 Standard HSC chapter 6 - Forms of Market and Price Determination Under Perfect Competition - Shaalaa.com](/images/economics-english-12-standard-hsc_6:5f2b1b2038084cf381bfa42c826a928c.jpg "Micheal Vaz solutions for Economics [English] 12 Standard HSC chapter 6 - Forms of Market and Price Determination Under Perfect Competition")
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Solutions for Chapter 6: Forms of Market and Price Determination Under Perfect Competition
Below listed, you can find solutions for Chapter 6 of Maharashtra State Board Micheal Vaz for Economics [English] 12 Standard HSC.
Micheal Vaz solutions for Economics [English] 12 Standard HSC 6 Forms of Market and Price Determination Under Perfect Competition Exercise 1 [Page 52]
Fill in the blank with appropriate alternative given below
Under perfect competition commodities are ________________ in nature.
homogeneous
classified
heterogeneous
supplementary
Fill in the blank with appropriate alternative given below
_____________ appears in a monopoly market.
product differentiation
price discrimination
individual differentiation
packing differentiation
Fill in the blank with appropriate alternative given below
The price at which demand and supply equate to each other is called _______ price.
general
equilibrium
short-run
reserve
Fill in the blank with appropriate alternative given below
In ________ market, seller creates products differentiation.
competition
perfect
pure
monopolistic competition
Fill in the blank with appropriate alternative given below
Monopolist means __________ competitive.
single seller
several seller
single buyer
several buyer
Match the following:
|
Group A
|
Group B
|
|
Monopoly
|
Public monopoly
|
|
Product differentiation
|
Abnormal profit
|
|
Railway
|
Monopolistic Competition
|
|
Perfect Competition
|
Prof. Chamberlin
|
|
Pure Competition
|
Homogenous product
|
|
|
Cartel
|
|
|
Selling cost
|
State whether the following statement is TRUE and FALSE.
There is no price discrimination under Monopolistic competition.
True
False
State whether the following statement is TRUE and FALSE.
In a monopoly market, firm and industry are the same.
True
False
State whether the following statement is TRUE and FALSE.
Product differentiation is not possible under perfect competition.
True
False
State whether the following statement is TRUE and FALSE.
Under perfect competition, price is determined by equilibrium of demand and supply.
True
False
Micheal Vaz solutions for Economics [English] 12 Standard HSC 6 Forms of Market and Price Determination Under Perfect Competition Exercise 2 [Page 52]
Define or explain the following concept:
Market
Define or explain the following concept:
Price discrimination
Define or explain the following concept:
Monopolistic Competition
Define or explain the following concept:
Selling cost
Define or explain the following concept:
Equilibrium price
Give reason or explain:
Single price prevails in perfect competition.
Give reason or explain:
Price discrimination is possible under monopoly.
Give reason or explain:
Selling cost is incurred by a firm in Monopolistic competition.
Give reason or explain:
A monopolist can control the supply of goods.
Give reason or explain:
Sellers and the buyers are price takers in perfect competition.
Micheal Vaz solutions for Economics [English] 12 Standard HSC 6 Forms of Market and Price Determination Under Perfect Competition Exercise 3 [Pages 52 - 53]
Distinguish between the following:
Perfect competition and Pure competition
Distinguish between the following:
Perfect competition and Monopoly
Distinguish between the following:
Natural monopoly and Social monopoly
Distinguish between the following:
Natural monopoly and legal monopoly
Distinguish between the following:
Perfect competition and Monopolistic competition
Name and explain the types of monopoly.
Write short note on the following:
Features of pure competition
Micheal Vaz solutions for Economics [English] 12 Standard HSC 6 Forms of Market and Price Determination Under Perfect Competition Exercise 4 [Page 53]
Answer the following question
What are the features of Perfect Competition?
Answer the following question
What are the features of monopoly?
Answer the following question
What are the features of monopolistic competition?
Micheal Vaz solutions for Economics [English] 12 Standard HSC 6 Forms of Market and Price Determination Under Perfect Competition Exercise 5 [Page 53]
State with reason whether you agree or disagree with the following statement
Perfect Competition means Monopolistic Competition.
State with reason whether you agree or disagree with the following statement
A seller is price maker in monopoly.
Micheal Vaz solutions for Economics [English] 12 Standard HSC 6 Forms of Market and Price Determination Under Perfect Competition Exercise 6 [Page 53]
Answer in detail
What is Perfect Competition? Explain price determination under Perfect Competition.
Answer in detail
What is monopoly? Explain in detail the features of monopoly?
What is Monopolistic Competition? Explain in detail the features of Monopolistic Competition.
Solutions for 6: Forms of Market and Price Determination Under Perfect Competition
Micheal Vaz solutions for Economics [English] 12 Standard HSC chapter 6 - Forms of Market and Price Determination Under Perfect Competition
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Concepts covered in Economics [English] 12 Standard HSC chapter 6 Forms of Market and Price Determination Under Perfect Competition are Market, Forms of Market, Market Forms - Duopoly, Equilibrium Price.
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