Advertisements
Advertisements
प्रश्न
There is no difference between perfect competition and pure competition.
पर्याय
True
False
उत्तर
This statement is False.
Explanation:
- There is a difference between perfect and pure competitiveness. Pure competition is defined as a market with a large number of customers and sellers offering homogeneous items and allowing free entry and exit.
- Perfect competition, on the other hand, is a more idealised definition that incorporates not just the characteristics of pure competition but other assumptions such as perfect knowledge and zero transaction costs, making it more limiting than pure competition.
APPEARS IN
संबंधित प्रश्न
What do you mean by price discrimination?
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
How is Perfect competitive market is different from a monopoly market?
Following is the feature of perfect competition:
Give two characteristics of perfect competition.
Which type of market structure is the following? Give reason.
Scooters
What is the effect on price when a perfectly competitive firm tries to sell more?
What is the difference between collusive and non-collusive oligopoly?
Name the characteristic which makes monopolistic competition different from perfect competition.
Why an individual firm under perfect competition cannot influence the market price?
