Q.23 A firm is not a price maker under:
(a) Oligopoly (b) Monopolistic competition (c) Monopoly (d) Perfect competition
2.24 Product differentiation is a feature of
market form.
Q.25 Other things being equal. When demand for goods increases due to decline in price of that good, then it
called......
of Demand
Answers
Explanation:
A machine (or mechanical device) is a mechanical structure that uses power to apply forces and control movement to perform an intended action. Machines can be driven by animals and people, by natural forces such as wind and water, and by chemical, thermal, or electrical power, and include a system of mechanisms that shape the actuator input to achieve a specific application of output forces and movement. They can also include computers and sensors that monitor performance and plan movement, often called mechanical systems.
A Honda F1 racecar engine.
Renaissance natural philosophers identified six simple machines which were the elementary devices that put a load into motion, and calculated the ratio of output force to input force, known today as mechanical advantage.[1]
Modern machines are complex systems that consist of structural elements, mechanisms and control components and include interfaces for convenient use. Examples include a wide range of vehicles, such as automobiles, boats and airplanes, appliances in the home and office, including computers, building air handling and water handling systems, as well as farm machinery, machine tools and factory automation systems and robots.