{"@context":"https://schema.org/","@type":"Quiz","dateCreated":"2025-09-18T03:14:31.116Z","dateModified":"2026-02-18T11:39:31.676Z","typicalAgeRange":"11-18","educationalLevel":"CUET (PG)","assesses":"Commerce - Economics","educationalAlignment":[{"@type":"AlignmentObject","alignmentType":"educationalTopic","targetName":"Economics"},{"@type":"AlignmentObject","alignmentType":"educationalSubject","targetName":"Commerce"},{"@type":"AlignmentObject","alignmentType":"educationalExam","targetName":"CUET (PG)"}],"name":"Quiz about Economics","about":{"@type":"Thing","name":"Commerce - Economics"},"hasPart":[{"@type":"Question","eduQuestionType":"Multiple choice","learningResourceType":"Practice problem","educationalLevel":"intermediate","name":"Question About Economics","text":"Which of the following are the features of perfect competition?}","encodingFormat":"text/markdown","comment":{"@type":"Comment","text":"Perfect competition implies price-taking behavior and many participants, with homogeneous products."},"suggestedAnswer":[{"@type":"Answer","position":0,"encodingFormat":"text/markdown","text":"

Product Heterogeneity

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Free entry and exit of firms

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The firm is a price maker

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Large number of buyers and sellers

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Free entry and exit of firms

","comment":{"@type":"Comment","text":"Perfect competition implies price-taking behavior and many participants, with homogeneous products."},"answerExplanation":{"@type":"comment","text":"Step 1: Characteristics of Perfect Competition: Identical products, unrestricted entry/exit, price takers (not price setters), numerous buyers and sellers. Step 2: Correct Choices: B and D."}}}]}

Which of the following are the features of perfect competition?

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The Correct Option is B

Solution and Explanation

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