Question
Which of the following statements are true regarding the
Perfect Competition market structure? 1. All firms in a perfectly competitive market sell identical products. 2. Firms in a perfectly competitive market have control over prices. 3. There is free entry and exit in a perfectly competitive market. 4. In the long run, firms in a perfectly competitive market earn normal profits. Select the correct answer using the code below:Solution
• Statement 1 is correct as firms in a perfectly competitive market sell identical products. • Statement 2 is incorrect because firms in perfect competition are price takers and do not have control over the market price. • Statement 3 is correct because in perfect competition, there are no barriers to entry or exit, allowing firms to freely enter or leave the market. • Statement 4 is correct because in the long run, firms in perfect competition earn normal profits, as the entry of new firms drives economic profits to zero.
What is a stale cheque?
The International Bank for Reconstruction and Development (IBRD) is an international financial institutions that offer loans to-
Which of the following is true about role of Banks?
I. It facilitates import export transactions.
II. It helps in national developmen...
Which of the following organizations associated with investigations in an act of Money laundering ?
It is the highest rated bond which gives maximum returns at the time of maturity?
Presently, Jai Kumar Garg is the CEO and MD of ___________
What is correct about RTGS and NEFT:
i) RTGS is intended for big amount and NEFT is for smaller amount. RTGS can be done for amounts of minim...
For which of the following reasons, NABARD has set up joint liability groups (JLG) of farmers?
Arrange the Following banks in ascending order in their respective establishment years.
(A) Corporation Bank    (B) Punjab National Bank ...
Consider the following statement with reference to the Special Drawing Rights(SDRs).
A) It is an international reserve asset created by the IM...
