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प्रश्न
What is perfect competition?
Define perfect competition.
Define a perfect market.
Define a perfectly competitive market.
"Under which type of a market are producers price takers"?
उत्तर
Perfect competition is a form of market in which there are a large number of buyers and sellers and a homogeneous product is sold at a uniform price.
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संबंधित प्रश्न
Justify the following statement with any two valid arguments. 'In a perfect competition market structure, an individual firm does not have any role in determining price’.
'A few big sellers' is a characteristic of ______.
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.
The seller in a monopoly market is a price maker.
Which of the following market types has the fewest number of firms?
Which one of the following is NOT found in a perfectly competition market?
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
Match the following:
| Column I | Column II | ||
| A. | Demand curve under perfect competition | (i) | Indeterminate demand curve |
| B. | Demand curve under monopoly | (ii) | Downward sloping but less elastic |
| C. | Demand curve under monopolistic competition | (iii) | Horizontal straight line |
| D. | Demand curve under oligopoly | (iv) | Elastic demand curve |
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.
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:
Perfectly elastic demand.
Give an example of monopoly.
Explain the main characteristics of a monopoly.
Product differentiation is practised in monopolistic competition? Give reasons.
Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.
Why can a monopolist charge different prices in different markets?
What is the difference between perfect and imperfect oligopoly?
Name the market which has characteristics both of monopoly and perfect competition.
