Question

classify the market according to competition​

Answer 1

Answer:

Competition....on the basis of competition , markets are classified as perfect market and imperfect market,In a perfect market buyers and sellers are fully aware about the prices of products prevaling in the market .Therefore,the prices of a product is small all over the market.

Explanation:

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Answer 2

On the basis of competition, markets are classified as perfect market and imperfect market. In a perfect market, buyers and sellers are fully aware about the prices of products prevailing in the market.

On the basis of competition, markets are classified as perfect market and imperfect market. In a perfect market, buyers and sellers are fully aware about the prices of products prevailing in the market.Therefore, the price of a product is same all over the market. On the other hand, in an imperfect market, the price of a product is different all over the market as buyers and sellers do not have any information regarding prices of products.