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Chapter 8

Perfectly Competitive Market Model

Multiple Choice Questions

āĻāĻ•াāϧিāĻ• āĻŦিāĻ•āϞ্āĻĒ āĻĒ্ā§°āĻļ্āύ

1. The number of firms in a perfectly competitive market is

āϏāĻŽ্āĻĒূā§°্āĻŖ āĻĒ্ā§°āϤিāϝোāĻ—িāϤাāĻŽূāϞāĻ• āĻŦāϜাā§°āϤ āĻĢাā§°্āĻŽā§° āϏংāĻ–্āϝা āĻšৈāĻ›ে

(a) One

āĻāĻ•

(b) Two

āĻĻুāχ

(c) Ten

āĻĻāĻš

(d) Infinite

āĻ…āϏীāĻŽ

Answer: (d) Infinite (āĻ…āϏীāĻŽ)।

2. Price of a product under perfect competition is determined by

āύিāĻ–ুঁāϤ āĻĒ্ā§°āϤিāϝোāĻ—িāϤাā§° āĻ…āϧীāύāϤ āϏাāĻŽāĻ—্ā§°ী āĻāϟাā§° āĻŽূāϞ্āϝ āύিā§°্āϧাā§°āĻŖ āϕ⧰া āĻšāϝ়

(a) Demand 

āĻĻā§°āĻ•াā§° 

(b) Supply

āϝোāĻ—াāύ  

(c) Both demand and supply

āϚাāĻšিāĻĻা āφ⧰ু āϝোāĻ—াāύ āĻĻুāϝ়োāϟা  

Answer: (c) Both demand and supply (āϚাāĻšিāĻĻা āφ⧰ু āϝোāĻ—াāύ āĻĻুāϝ়োāϟা)।

3. The market period supply curve is

āĻŦāϜাā§°ā§° āϏāĻŽāϝ়ā§° āϝোāĻ—াāύ āĻŦāĻ•্ā§° āĻšৈāĻ›ে

(a) Perfectly elastic

āϏāĻŽ্āĻĒূā§°্āĻŖā§°ূāĻĒে āχāϞাāώ্āϟিāĻ•

(b) Perfectly inelastic

āϏāĻŽ্āĻĒূā§°্āĻŖā§°ূāĻĒে āχāϞাāώ্āϟিāĻ• āύāĻšāϝ়  

(c) Relatively more elastic

āϤুāϞāύাāĻŽূāϞāĻ•āĻ­াā§ąে āĻ…āϧিāĻ• āχāϞাāώ্āϟিāĻ•

Answer: (b) Perfectly inelastic (āϏāĻŽ্āĻĒূā§°্āĻŖā§°ূāĻĒে āχāϞাāώ্āϟিāĻ• āύāĻšāϝ়)।

4. Normal price is the price that tens to prevall in the

āϏ্āĻŦাāĻ­াā§ąিāĻ• āĻŽূāϞ্āϝ āĻšৈāĻ›ে āϏেāχ āĻŽূāϞ্āϝ āϝিāϟো āĻĻāĻšāϟাā§° āĻĒā§°া āĻĒ্ā§°িāĻ­াāϞ āϕ⧰িāĻŦ āϞাāĻ—ে

(a) Long period 

āĻĻীāϘāϞীāϝ়া āϏāĻŽāϝ়

(b) Short period 

āϚāĻŽু āϏāĻŽāϝ় 

(c) Market period

āĻŦāϜাā§°ā§° āĻŽ্āϝাāĻĻ

Answer: (a) Long period (āĻĻীāϘāϞীāϝ়া āϏāĻŽāϝ়)।

5. Market intervention through price support policy

āĻŽূāϞ্āϝ āϏāĻŽā§°্āĻĨāύ āύীāϤিā§° āϜ⧰িāϝ়āϤে āĻŦāϜাā§°ā§° āĻšāϏ্āϤāĻ•্āώেāĻĒ

(a) Raise production 

āĻ‰ā§ŽāĻĒাāĻĻāύ āĻŦৃāĻĻ্āϧি āϕ⧰া

(b) Stabilises income of producers

 āĻ‰ā§ŽāĻĒাāĻĻāϕ⧰ āωāĻĒাā§°্āϜāύ āϏ্āĻĨিā§° āϕ⧰ে

(c) Both of them

āĻĻুāϝ়োāϟা

Answer: (c) Both of them (āĻĻুāϝ়োāϟা)।

Very Short Answer Type Questions  

āĻ…āϤি āϚāĻŽু āωāϤ্āϤ⧰ āĻĒ্ā§°āĻ•াā§°ā§° āĻĒ্ā§°āĻļ্āύ 

1. What is perfect competition?

āύিāĻ–ুঁāϤ āĻĒ্ā§°āϤিāϝোāĻ—িāϤা āĻ•ি?

Answer:  

2. In the competitive market model which forces determine the price of a commodity? 

āĻĒ্ā§°āϤিāϝোāĻ—িāϤাāĻŽূāϞāĻ• āĻŦāϜাā§°ā§° āφ⧰্āĻšিāϤ āĻ•োāύāĻŦোā§° āĻļāĻ•্āϤিāϝ়ে āϏাāĻŽāĻ—্ā§°ীā§° āĻŽূāϞ্āϝ āύিā§°্āϧাā§°āĻŖ āϕ⧰ে? 

Answer: 

3. If demand increases and supply decreases, how is the price affected?

āϝāĻĻি āϚাāĻšিāĻĻা āĻŦৃāĻĻ্āϧি āĻšāϝ় āφ⧰ু āϝোāĻ—াāύ āĻš্ā§°াāϏ āĻšāϝ়, āĻŽূāϞ্āϝ āĻ•েāύেāĻĻā§°ে āĻĒ্ā§°āĻ­াā§ąিāϤ āĻšāϝ়?

Answer:  

4. What is market price? 

āĻŦāϜাā§°ā§° āĻŽূāϞ্āϝ āĻ•িāĻŽাāύ?

Answer: 

5. Define reserve price.

āϏংā§°āĻ•্āώিāϤ āĻŽূāϞ্āϝ āύিā§°্āϧাā§°āĻŖ āϕ⧰āĻ•।  

Answer: 

6. What is normal price?

āϏ্āĻŦাāĻ­াā§ąিāĻ• āĻŽূāϞ্āϝ āĻ•িāĻŽাāύ?

Answer:  

7. How can the government intervene in the market? 

āϚ⧰āĻ•াā§°ে āĻŦāϜাā§°āϤ āĻ•েāύেāĻ•ৈ āĻšāϏ্āϤāĻ•্āώেāĻĒ āϕ⧰িāĻŦ āĻĒাā§°ে? 

Answer: 

Short Answer Type Questions 

āϚāĻŽু āωāϤ্āϤ⧰āĻĒ্ā§°āĻ•াā§°ā§° āĻĒ্ā§°āĻļ্āύ 

1. What are the features of perfect competition?

āύিāĻ–ুঁāϤ āĻĒ্ā§°āϤিāϝোāĻ—িāϤাā§° āĻŦিāĻļেāώāϤ্āĻŦāĻŦোā§° āĻ•ি?  

Answer:

2. Distinguish between pure and perfect competition.

āĻŦিāĻļুāĻĻ্āϧ āφ⧰ু āύিāĻ–ুঁāϤ āĻĒ্ā§°āϤিāϝোāĻ—িāϤাā§° āĻŽাāϜāϤ āĻĒাā§°্āĻĨāĻ•্āϝ āϕ⧰া।

Answer:  

3. How is price determined in a perfectly competitive model?

āĻāϟা āϏāĻŽ্āĻĒূā§°্āĻŖ āĻĒ্ā§°āϤিāϝোāĻ—িāϤাāĻŽূāϞāĻ• āφ⧰্āĻšিāϤ āĻŽূāϞ্āϝ āĻ•েāύেāĻĻā§°ে āύিā§°্āϧাā§°āĻŖ āϕ⧰া āĻšāϝ়?

Answer:  

4. How is market price determined?

āĻŦāϜাā§°āĻŽূāϞ্āϝ āĻ•েāύেāĻĻā§°ে āύিā§°্āϧাā§°āĻŖ āϕ⧰া āĻšāϝ়?

Answer: 

5. How is normal price determined?

āϏ্āĻŦাāĻ­াā§ąিāĻ• āĻŽূāϞ্āϝ āĻ•েāύেāĻĻā§°ে āύিā§°্āϧাā§°āĻŖ āϕ⧰া āĻšāϝ়?

Answer:  

6. How can government intervene in the market through price control and rationing?

āĻŽূāϞ্āϝ āύিāϝ়āύ্āϤ্ā§°āĻŖ āφ⧰ু ā§°েāϚāύ⧰ āϜ⧰িāϝ়āϤে āϚ⧰āĻ•াā§°ে āĻŦāϜাā§°āϤ āĻ•েāύেāĻ•ৈ āĻšāϏ্āϤāĻ•্āώেāĻĒ āϕ⧰িāĻŦ āĻĒাā§°ে?

Answer:  

Long Answer Type Questions

āĻĻীāϘāϞীāϝ়া āωāϤ্āϤ⧰⧰ āĻĒ্ā§°āĻļ্āύ

1. Is perfect competition realistic?

āύিāĻ–ুঁāϤ āĻĒ্ā§°āϤিāϝোāĻ—িāϤা āĻŦাāϏ্āĻ¤ā§ąিāĻ• āύেāĻ•ি?

Answer:  

2. Price is determined by the interaction between the forces of demand and supply. Explain.

āϚাāĻšিāĻĻা āφ⧰ু āϝোāĻ—াāύ āĻļāĻ•্āϤিā§° āĻŽাāϜ⧰ āĻŦাā§°্āϤাāϞাāĻĒā§° āĻĻ্āĻŦাā§°া āĻŽূāϞ্āϝ āύিā§°্āϧাā§°āĻŖ āϕ⧰া āĻšāϝ়। āĻŦ্āϝাāĻ–্āϝা āϕ⧰া।

Answer:  

3. Explain the determination of market period for perishable and non-perishable commodities. 

āĻĒāϚāύāĻļীāϞ āφ⧰ু āĻ…-āĻĒāϚāύāĻļীāϞ āϏাāĻŽāĻ—্ā§°ীā§° āĻŦাāĻŦে āĻŦāϜাā§°ā§° āĻŽ্āϝাāĻĻ āύিā§°্āϧাā§°āĻŖ āĻŦā§°্āĻŖāύা āϕ⧰া। 

Answer:

4. Distinguish between market price and normal price. On what factors does the normal prise depend?

āĻŦāϜাā§° āĻŽূāϞ্āϝ āφ⧰ু āϏ্āĻŦাāĻ­াā§ąিāĻ• āĻŽূāϞ্āϝ⧰ āĻŽাāϜāϤ āĻĒাā§°্āĻĨāĻ•্āϝ āϕ⧰া। āϏ্āĻŦাāĻ­াā§ąিāĻ• āĻĒ্ā§°িāϜ āĻ•ি āĻ•াā§°āϕ⧰ āĻ“āĻĒā§°āϤ āύিā§°্āĻ­ā§° āϕ⧰ে?

Answer:  

5. What is market intervention? How can the government intervene in the market through taxation? 

āĻŦāϜাā§°ā§° āĻšāϏ্āϤāĻ•্āώেāĻĒ āĻ•ি? āϚ⧰āĻ•াā§°ে āϕ⧰⧰ āϜ⧰িāϝ়āϤে āĻŦāϜাā§°āϤ āĻ•েāύেāĻ•ৈ āĻšāϏ্āϤāĻ•্āώেāĻĒ āϕ⧰িāĻŦ āĻĒাā§°ে?

Answer:

Very Long Answer Type Questions

āĻ…āϤি āĻĻীāϘāϞীāϝ়া āωāϤ্āϤ⧰⧰ āĻĒ্ā§°āĻļ্āύ

1. Explain clearly the price determination in a perfectly competitive model. 

āĻāϟা āϏāĻŽ্āĻĒূā§°্āĻŖ āĻĒ্ā§°āϤিāϝোāĻ—িāϤাāĻŽূāϞāĻ• āφ⧰্āĻšিāϤ āĻŽূāϞ্āϝ āύিā§°্āϧাā§°āĻŖ āϏ্āĻĒāώ্āϟāĻ­াā§ąে āĻŦā§°্āĻŖāύা āϕ⧰া।

Answer: 

2. Explain the importance of time element in the theory of price. 

āĻŽূāϞ্āϝ⧰ āϤāϤ্āϤ্āĻŦāϤ āϏāĻŽāϝ় āωāĻĒাāĻĻাāύ⧰ āĻ—ুā§°ুāϤ্āĻŦ āĻŦā§°্āĻŖāύা āϕ⧰া।

Answer: 

3. How are short period and long period prices determined?

āĻ•āĻŽ āϏāĻŽāϝ় āφ⧰ু āĻĻীāϘāϞীāϝ়া āĻŽ্āϝাāĻĻā§° āĻŽূāϞ্āϝ āĻ•েāύেāĻĻā§°ে āύিā§°্āϧাā§°āĻŖ āϕ⧰া āĻšāϝ়?

Answer:  

4. How do laws of returns influence long run normal price?

ā§°িāϟাā§°্āĻŖā§° āφāχāύে āĻĻীā§°্āϘāĻŽ্āϝাāĻĻী āϏ্āĻŦাāĻ­াā§ąিāĻ• āĻŽূāϞ্āϝāĻ• āĻ•েāύেāĻĻā§°ে āĻĒ্ā§°āĻ­াā§ąিāϤ āϕ⧰ে?

Answer:  

5. Analyse the impact of government interventions in the market through taxes, subsidies and price support.

āϕ⧰, ā§°াāϜāϏাāĻšাāϝ্āϝ āφ⧰ু āĻŽূāϞ্āϝ āϏāĻŽā§°্āĻĨāύ⧰ āϜ⧰িāϝ়āϤে āĻŦāϜাā§°āϤ āϚ⧰āĻ•াā§°ী āĻšāϏ্āϤāĻ•্āώেāĻĒā§° āĻĒ্ā§°āĻ­াā§ą āĻŦিāĻļ্āϞেāώāĻŖ āϕ⧰া।

Answer:


Questions Type-Bhabesh Bora



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