Download App

Non-Competitive Markets — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsNon-Competitive Markets1 Mark
Question
Define monopolistic competition.
✓

Answer

Monopolistic competition refers to a market situation in which there are large number of buyers and sellers, selling differentiated product.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "Answer The Following Questions In One Sentence.[1 Marks Each]" from Non-Competitive Markets→Non-Competitive Markets — all question types→Economics STD 12 Humanities & Commerce question papers→Rajasthan Board STD 12 Humanities & Commerce question papers→Rajasthan Board question paper generator→

Similar questions

What is meant by cash reserve ratio?
→
If a farmer grows rice and wheat, how will a decrease in the price of wheat affect the supply curve of rice?
→
Define GDP at Market Price.
→
Explain the effect of cost saving technological progress on supply of a commodity.
→
Give the examples of monopolistic competitive market.
→
Define GNP at Market Price.
→
Give one/ two examples of microeconomics study.###Name any three variables of microeconomics.
→
When is the net domestic product at market price less than the net domestic product at factor cost?
→
Define bank rate.
→
If demand is elastic, how will an increase in price affect the total revenue? Explain.
→