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DSSSB PRT 2022 Afternoon 📅 16 Mar, 2022

Which of the following statements is correct regarding the characteristics of a perfectly competitive market? I. There are a large number of buyers and sellers in the market. II. There is free entry and exit of firms in the market.

A
Only I
B
Both I and II
C
Neither I nor II
D
Only II
Result Summary
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DSSSB PRT
2022 • 16 Mar, 2022 • Afternoon
Which of the following statements is correct regarding the characteristics of a perfectly competitive market? I. There are a large number of buyers and sellers in the market. II. There is free entry and exit of firms in the market.
Correct Answer
Both I and II
• **Perfect Competition:** Characterized by many buyers/sellers, homogeneous products, and free entry/exit....
Ref/Book : NCERT
Ref. Subject Economics
Chapter Class 12
Ref. Topic Market Structures
Pg. No -
💡 Analysis & Explanation
• **Perfect Competition ▼
** Characterized by many buyers/sellers, homogeneous products, and free entry/exit.
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