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  • Question
  • A market situation when firms sell similar but not identical products is termed as


  • Options
  • A. perfect competition
  • B. imperfect competition
  • C. monopolistic competition
  • D. oligopoly

  • Correct Answer
  • monopolistic competition 

    Explanation

    Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another (e.g. by branding or quality) and hence are not perfect substitutes.

    In other words, large sellers selling the products that are similar, but not identical and compete with each other on other factors besides price.

  • Tags: Bank Exams

    More questions

    • 1. The organic reaction represented by equation CH3 - CH = O + H2NOH gives CH3 - CH - NH + H2O is an example of

    • Options
    • A. an addition reaction
    • B. a condensation reaction
    • C. an oxidation reaction
    • D. an elimination reaction
    • Discuss
    • 2. Which of the following is not an isotope of hydrogen?

    • Options
    • A. Tritium
    • B. Deuterium
    • C. Protium
    • D. Yttrium
    • Discuss
    • 3. The IBM PC-XT was the first to include a hard drive. What was the capacity of this disk?

    • Options
    • A. 20 MB
    • B. 1.44 MB
    • C. 10 MB
    • D. 750 KB
    • Discuss
    • 4. The great Victoria Desert is located in


    • Options
    • A. Canada
    • B. West Africa
    • C. Australia
    • D. North America
    • Discuss
    • 5. Nuclear fission is caused by the impact of

    • Options
    • A. neutron
    • B. proton
    • C. deuteron
    • D. electron
    • Discuss
    • 6. Which of the following is a warm current?

    • Options
    • A. Benguela current
    • B. Labrador current
    • C. Kurosiwo current
    • D. South Pacific current
    • Discuss
    • 7. In which year did Ajay Jadeja make his ODI debut?

    • Options
    • A. 1996
    • B. 1985
    • C. 1992
    • D. 1991
    • Discuss
    • 8. 'The Gathering Storm' is written by

    • Options
    • A. Winston Churchill
    • B. George Washington
    • C. Voltaire
    • D. Romain Rolland
    • Discuss
    • 9. Which of the following countries is not a member of a SAARC

    • Options
    • A. Sri Lanka
    • B. Myanmar
    • C. Maldives
    • D. Bhutan
    • Discuss
    • 10. Each year World Red Cross and Red Crescent Day is celebrated on

    • Options
    • A. May 8
    • B. May 18
    • C. June 8
    • D. June 18
    • Discuss


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