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प्रश्न
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.
पर्याय
Monopolistically competitive market
Perfectly competitive market
Monopoly
Monopsony
Oligopoly
उत्तर
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is perfectly competitive market.
Explanation:
In a perfectly competitive market, homogeneous products are sold, with neither particular enterprises nor buyers controlling the price. The market's supply and demand structure decides the price, and all enterprises act as price takers.
संबंधित प्रश्न
Discuss any two features of a monopolistically competitive market.
Identify the market having a single buyer and many sellers from the following:
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
Following is not the feature of perfect competition:
'A few big sellers' is a characteristic of ______.
Marginal revenue of a firm is constant throughout under:
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | (A) | Oligopoly |
| (ii) | Less elastic demand | (B) | Monopolistic competition |
| (iii) | More elastic demand | (C) | Perfect competition |
| (iv) | Indeterminate demand | (D) | Monopoly |
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
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:
Give an example of monopsony.
Highlight the importance of selling costs in a monopolistically compatible market.
Identify the market form of the following:
Goods sold are homogeneous.
State the market form of the following commodity.
Automobiles
Define monopoly.
What do you mean by homogeneous products?
What is meant by barriers to entry?
What is the difference between perfect and imperfect oligopoly?
What does perfectly elastic demand curve faced by a competitive firm indicate?
Identify the market form from the following.
Perfect knowledge
There are a large number of buyers and sellers under a ______ market.
