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प्रश्न
Following is the feature of perfect competition:
पर्याय
Product differentiation
Homogeneous product
Barriers to entry
Less elastic
उत्तर
Homogeneous product
Explanation:
In perfect competition, all firms supply a homogeneous product, which means that the items produced by different enterprises appear identical to consumers. There is no product differentiation, and customers don't favour one company's goods over another.
संबंधित प्रश्न
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
Explain three features of Perfect competitive market.
Selling costs are absent in perfect competition market.
Differentiated products is a characteristic of ______.
There is no difference between perfect competition and pure competition.
Which of these feature's is found in both a perfectly competitive market and a monopolistically competitive market?
Read the given statements carefully and select the correct option.
- The number of sellers under oligopoly are small.
- In monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions.
Match the following:
| Column I | Column II | ||
| A. | Monopoly | (i) | Availability of close substitutes |
| B. | Oligopoly | (ii) | Absence of close substitutes |
| C. | Perfect competition | (iii) | Few large sellers |
| D. | Monopolistic competition | (iv) | Homogeneous products |
What is meant by product differentiation?
To which market is product differentiation relevant?
Highlight the importance of selling costs in a monopolistically compatible market.
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:
Motor car market in India.
State the market form of the following commodity.
Shampoos
Identify the market form for the item given below:
Homogeneous goods
Which type of market structure is the following? Give reason.
Trucks
Which type of market structure is the following? Give reason.
Scooters
Which type of market structure is the following? Give reason.
Ball-pen
Elaborate the price discrimination feature of monopoly.
Identify the market form from the following.
Perfect knowledge
