Advertisements
Advertisements
Question
Non-price competition is ______.
Options
Reducing prices
Competition based on prices
Spending money on advertisement, packaging, branding
Sale of unused stock
Solution
Non-price competition is spending money on advertisement, packaging, branding.
Explanation:
Non-price competition is when businesses compete by investing in tools other than pricing. Firms in this form of rivalry typically spend money on advertising, packaging and branding to attract new customers.
APPEARS IN
RELATED QUESTIONS
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
“While shopping for fruits in the local market you see many seller selling fruits”. In this context answer the following:
- What is the type of market referred to?
- State and draw the type of demand curve faced by the market above.
- Differentiate between the market indicated above and monopoly on the basis of:
- No. of sellers
- Market price
- Entry and exit of firms in the market
Which of the following is the least competitive market?
What is perfect competition?
What are selling costs?
In which form of market is the seller a price taker? Justify your answer.
Identify the market form for the following:
Railways in India.
Which type of market structure is the following? Give reason.
Jeans
To which market is price discrimination relevant?
What induces new firms to enter an industry?
