Match the items of List – I with the items of List – II and find the correct combination :…
Matching market structures with real-world industry examples: (a) Perfect competition is approximated by homogeneous Farm Products like grains (iv); (b) Oligopoly is…
Choose your answer
Match the items of List – I with the items of List – II and find the correct combination :
| List-I | List-II |
|---|---|
| (a) Perfect competition | (i) Aluminium and passenger cars |
| (b) Oligopoly | (ii) Public utilities like Telephones and Electricity |
| (c) Monopoly | (iii) Manufacturing : T.V. Sets, Refrigerators |
| (d) Monopolistic competition | (iv) Farm Products : Grains |
Answer and explanation
Correct answer B
Matching market structures with real-world industry examples: (a) Perfect competition is approximated by homogeneous Farm Products like grains (iv); (b) Oligopoly is exemplified by capital-intensive Aluminium and passenger car industries (i); (c) Monopoly is represented by natural public utilities like telephones and electricity (ii); and (d) Monopolistic competition is seen in differentiated consumer durables like TV sets and refrigerators (iii).
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UGC NET Management