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MICROECONOMICS CH : 12 FORMS OF MARKET: PERFECT COMPETITION — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 12 FORMS OF MARKET: PERFECT COMPETITION1 Mark
Question
Define perfect competition.
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Answer

Perfect competition is a form of the market in which there are a large number of buyers and sellers and where homogeneous product is sold at a uniform price.

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