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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. What is an FET?

    • Options
    • A. Farad Effect Transformer
    • B. Field Effect Transformer
    • C. Field Effect Transistor
    • D. French Energy Transfer
    • Discuss
    • 2. The greatest variety of animal and plant species is fund in


    • Options
    • A. temperate grasslands
    • B. tropical moist forests
    • C. tundra regions
    • D. in hot deserts
    • Discuss
    • 3. The members of the Rajya Sabha are elected for a term


    • Options
    • A. of six years
    • B. determined by the state legislative assembly of a state
    • C. of four years
    • D. None of the above
    • Discuss
    • 4. The shallow seas found in the Atlantic basin include the

    • Options
    • A. Caribbean sea and Mediterranean
    • B. Baltic and Arctic seas
    • C. Gulf of Mexico
    • D. All of the above
    • Discuss
    • 5. Coral reefs in India can be found in

    • Options
    • A. the coast of Orissa
    • B. Waltair
    • C. Rameshwaram
    • D. Trivandrum
    • Discuss
    • 6. Which of the following is the lightest metal?

    • Options
    • A. Mercury
    • B. Lithium
    • C. Lead
    • D. Silver
    • Discuss
    • 7. The first graphical browser for the WWW was named:

    • Options
    • A. Netscape
    • B. Veronica
    • C. Mosaic
    • D. Explorer
    • Discuss
    • 8. What Designates where the next action occurs?

    • Options
    • A. Decode
    • B. Highlight
    • C. Select
    • D. Mother board
    • Discuss
    • 9. 'Eight Lives' is a book written by

    • Options
    • A. Raja Ramana
    • B. Savita Ambedkar
    • C. Mahesh Yogi
    • D. Raj Mohan Gandhi
    • Discuss
    • 10. In India the first television programme was broadcasted in

    • Options
    • A. 1959
    • B. 1965
    • C. 1976
    • D. 1957
    • Discuss


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