Perfect competition is a situation in which a commodity sells at ______________.
Higher price
Lower price
Uniform price
None of these
_____________ refers to the types of market in which the firms operate.
Market structure
Competitive market
Oligopoly market
Price maker firms exist under ________________ competition.
Monopolistic competition
Perfect competition
Monopoly
Oligopoly
Market needs to exist in some geographical place. This statement is.
Absolutely true
Absolutely false
Only partially correct
Available information is incomplete
Which one is not the characteristics features of perfect competition?
large number of firms
Homogenous products
Individual firm influences price
Individual cannot influence price
Product homogeneity is a feature of _____________.
Imperfect competition
Plannigs a special feature of_____________ economy.
Socialist
Capitalist
Mixed economy
_________________ are the extreme forms of the market.
a and b
_______________ are neither fully competitive nor fully monopolistic.
We adopted planing from.
America
China
Soviet Union
