Market and Price Determination-Perfect Competition (CBSE (Central Board of Secondary Education- Board Exam) Class-12 Economics): Questions 1 - 9 of 9

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Question number: 1

» Market and Price Determination » Perfect Competition

One Liner Question▾

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What is meant by the term ‘price taker’ in the context of a firm?

Question number: 2

» Market and Price Determination » Perfect Competition

Short Answer Question▾

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Explain the implication of ‘homogenous product’ feature of perfect competition.

Question number: 3

» Market and Price Determination » Perfect Competition

Short Answer Question▾

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Explain the implications of the following features of perfect competition:

(a) large number of buyers and sellers

(b) freedom of entry and exit of firms

Question number: 4

» Market and Price Determination » Perfect Competition

Short Answer Question▾

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State four features of a perfectly competitive market.

Question number: 5

» Market and Price Determination » Perfect Competition

Appeared in Year: 2011

Short Answer Question▾

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Define flow variables.

Question number: 6

» Market and Price Determination » Perfect Competition

Essay Question▾

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Explain briefly the three features of perfect competition.

Explanation

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Question number: 7

» Market and Price Determination » Perfect Competition

Essay Question▾

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Why is a firm under Perfect competition a price-taker? Explain

Explanation

… (85 more words) …

Question number: 8

» Market and Price Determination » Perfect Competition

Essay Question▾

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Explain the following: (I) ‘Free entry and exit’ feature of perfect competition, (ii) ‘Differentiated products’ feature of monopolistic competition.

Explanation

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Question number: 9

» Market and Price Determination » Perfect Competition

Essay Question▾

Describe in Detail

Explain the following features of perfect competition: (i) Large number of buyers and sellers (ii) Homogeneous products

Explanation

… (236 more words) …

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