Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Non Competitive markets

Question:
The most competitive market structure is
Options:
Perfect competition
Monopoly
Monopolistic competition
Oligopoly
Correct Answer:
Perfect competition
Explanation:
Perfect competition is the most competitive with large number of buyers and sellers selling homogenous product at given price and monopoly is the least competitive with a single seller.