Complete the correlation : Perfect competition : Large number of sellers : : ______ : Few sellers
Q.1 (B) (ii) Complete the correlation : Perfect competition : Large number of sellers : : ______ : Few sellers
Q.1 (B) (ii) Complete the correlation : Perfect competition : Large number of sellers : : ______ : Few sellers
Best answer
Answer: Oligopoly
Perfect competition has a large number of buyers and sellers. Oligopoly is a market form with a few sellers (big firms) selling homogeneous or differentiated products, with interdependence in their decisions, e.g. telecom service providers.
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