Which of the following structural attributes is typically present in a perfectly competitive market?

Question

Economics · Economy

Verified Solution4 OptionsUpdated: October 2026👁️1 View

Share:

Correct answer

Firms can enter or exit the market freely without restrictions

Save this question and verified answer as a clean study sheet with live clickable link.

👥

Challenge your peer aspirants on WhatsApp or Telegram to solve this question!

Online Test Series

Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.

Chapter Practice

Want more practice questions on Economy?

Solve complete topic-wise tests with detailed solutions on GkGet.

Recommended practice questions in Economics · Economy

Mahatma Gandhi's last fast unto death in 1948 was primarily against which of the following?

What was the primary meaning of 'Swaraj' as popularized by Mahatma Gandhi during India's independence movement?

What was one major impact of India’s independence on its economy?

Answer 1

Firms can enter or exit the market freely without restrictions

Answer 2

Each individual firm possesses the power to set its own price independently

Answer 3

A small number of dominant firms monopolize the aggregate supply

Answer 4

Sellers offer highly differentiated products with unique brand identities

Related Practice Questions