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Match the following List-I (Characteristics of Perfect Competition) List-II (Explanations) a...

This question belongs to Commerce Economics
Economics
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Match the following.
List-I (Characteristics of Perfect Competition) List-II (Explanations)
a. Many small sellers 1. No seller is able to exert a significant influence over price
b. Many small buyers 2. No buyer's is able to exert a significant influence over price
c. Product undifferentiated 3. Decision to buy are made on the basis of price
d. Easy entry and exit 4. Resources are easily transferable among industries

Answer & Solution
Correct Answer: Option D
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