Perfect competition is a type of marketplace where multiple companies are selling the same product or service, and a large number of consumers are looking to purchase it. None of these companies have the power to set a price for that product or service without losing business to other competitors. There are no barriers for firms to enter or exit from the market, and the product or service of one company cannot be differentiated from that of its competitors. Show
Below is a list of multiple-choice questions and answers on Perfect Competition to help students understand the topic better.
Answer: a Answer: a Answer: c Answer: a Answer: d Answer: d Answer: d Answer: b Answer: b Answer: a Also See:
A doll company that varies its doll's facial features, hair and outfits depending on the culture and characteristics of the children in the countries it markets to, is pursuing a multidomestic strategy.Which industry type is characterized by a large number of firm of approximately equal size?An emerging industry is one that is characterized by a large number of firms of approximately equal size.
Which industry type is characterized by a large number of firms of approximately equal size fragmented industry declining industry mature industry consolidated industry?Option B (Mature) is correct
One of the stages in the product life cycle is a mature industry.
How a company is situated relative to its competitors is referred to as Mcq?How a company is situated relative to its competitors is referred to as _____ . market share. position.
What is an emerging industry What is the primary opportunity available to entrepreneurial firms in emerging industries?The primary opportunity which the entrepreneurial firms gain from emerging industries is to enjoy the first movers-advantage and gain competitive advantage as they are new into the market they have to build trust and increase contacts in the market rather than working on bringing innovation in the market--for example, ...
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