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Question
Complete the correlation:
Perfect competition : Free entry and exit : : ______ : Barriers to entry.
Correlation/Analogy/Related Words
Fill in the Blanks
Solution
Perfect competition : Free entry and exit : : Monopoly : Barriers to entry.
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RELATED QUESTIONS
Explain the meaning of Monopoly with its features.
Complete the Correlation:
Single price : Perfect competition :: Discriminated prices : ______
Features of monopoly:
- Price discrimination
- A large number of sellers
- Control over price
- No control over market supply
- Assertion (A): In a monopoly, the price can be discriminated person-wise.
- Reasoning (R): Boys and girls have different fees in government schools in India.
Complete the correlation:
Mono : ______ : : Poly : Seller.
Explain how a seller can be a price maker in a monopoly.
State with reasons whether you agree or disagree with the following statement.
Price maker is the only feature of monopoly market.
