Commerce Exam > Commerce Questions > Direction: In the following questions, a sta...
Start Learning for Free
Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:
Assertion (A): In monopolistic competition, there is a fierce competition between the firms in the market.
Reason (R): In monopolistic competition, there are a large number of sellers and buyers in the market.
- a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).
- b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).
- c)Assertion (A) is true, but Reason (R) is false.
- d)Assertion (A) is false, but Reason (R) is true.
Correct answer is option 'B'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
Direction: In the following questions, a statement of Assertion (A) i...
Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another as goods but not perfect substitutes (such as from branding, quality, or location).
View all questions of this test
Most Upvoted Answer
Direction: In the following questions, a statement of Assertion (A) i...
Explanation:
Assertion (A): In monopolistic competition, there is a fierce competition between the firms in the market.
Reason (R): In monopolistic competition, there are a large number of sellers and buyers in the market.
Correct Answer: Option B - Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).
Explanation:
Monopolistic Competition:
Monopolistic competition is a market structure where there are a large number of sellers who offer differentiated products. In this market structure, each firm has some control over the price of its product due to product differentiation, but there is still competition from other firms.
Explanation of Assertion (A):
In monopolistic competition, there is fierce competition between the firms in the market. This is because each firm tries to differentiate its product from competitors in order to attract customers. Firms engage in advertising, branding, and other marketing strategies to create a unique image for their products. This creates competition among the firms as they try to capture a larger market share.
Explanation of Reason (R):
In monopolistic competition, there are indeed a large number of sellers and buyers in the market. This market structure is characterized by having many firms, each producing a slightly different product. This variety of products gives consumers choices and allows them to switch between different brands. Similarly, there are many firms competing for the same set of customers, which leads to intense competition.
Explanation of Correct Answer:
Both Assertion (A) and Reason (R) are true. In monopolistic competition, there is indeed fierce competition between firms, and there are a large number of sellers and buyers in the market. However, Reason (R) is not the correct explanation of the Assertion (A). The reason does not directly explain why there is fierce competition in monopolistic competition. The presence of a large number of sellers and buyers in the market is a characteristic of the market structure, but it does not directly explain the intensity of competition among the firms. The intense competition arises due to firms' efforts to differentiate their products and attract customers.
Assertion (A): In monopolistic competition, there is a fierce competition between the firms in the market.
Reason (R): In monopolistic competition, there are a large number of sellers and buyers in the market.
Correct Answer: Option B - Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).
Explanation:
Monopolistic Competition:
Monopolistic competition is a market structure where there are a large number of sellers who offer differentiated products. In this market structure, each firm has some control over the price of its product due to product differentiation, but there is still competition from other firms.
Explanation of Assertion (A):
In monopolistic competition, there is fierce competition between the firms in the market. This is because each firm tries to differentiate its product from competitors in order to attract customers. Firms engage in advertising, branding, and other marketing strategies to create a unique image for their products. This creates competition among the firms as they try to capture a larger market share.
Explanation of Reason (R):
In monopolistic competition, there are indeed a large number of sellers and buyers in the market. This market structure is characterized by having many firms, each producing a slightly different product. This variety of products gives consumers choices and allows them to switch between different brands. Similarly, there are many firms competing for the same set of customers, which leads to intense competition.
Explanation of Correct Answer:
Both Assertion (A) and Reason (R) are true. In monopolistic competition, there is indeed fierce competition between firms, and there are a large number of sellers and buyers in the market. However, Reason (R) is not the correct explanation of the Assertion (A). The reason does not directly explain why there is fierce competition in monopolistic competition. The presence of a large number of sellers and buyers in the market is a characteristic of the market structure, but it does not directly explain the intensity of competition among the firms. The intense competition arises due to firms' efforts to differentiate their products and attract customers.
Attention Commerce Students!
To make sure you are not studying endlessly, EduRev has designed Commerce study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Commerce.
|
Explore Courses for Commerce exam
|
|
Similar Commerce Doubts
Top Courses for CommerceView all
Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): In monopolistic competition, there is a fierce competition between the firms in the market.Reason (R): In monopolistic competition, there are a large number of sellers and buyers in the market.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer?
Question Description
Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): In monopolistic competition, there is a fierce competition between the firms in the market.Reason (R): In monopolistic competition, there are a large number of sellers and buyers in the market.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): In monopolistic competition, there is a fierce competition between the firms in the market.Reason (R): In monopolistic competition, there are a large number of sellers and buyers in the market.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): In monopolistic competition, there is a fierce competition between the firms in the market.Reason (R): In monopolistic competition, there are a large number of sellers and buyers in the market.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer?.
Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): In monopolistic competition, there is a fierce competition between the firms in the market.Reason (R): In monopolistic competition, there are a large number of sellers and buyers in the market.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): In monopolistic competition, there is a fierce competition between the firms in the market.Reason (R): In monopolistic competition, there are a large number of sellers and buyers in the market.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): In monopolistic competition, there is a fierce competition between the firms in the market.Reason (R): In monopolistic competition, there are a large number of sellers and buyers in the market.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer?.
Solutions for Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): In monopolistic competition, there is a fierce competition between the firms in the market.Reason (R): In monopolistic competition, there are a large number of sellers and buyers in the market.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): In monopolistic competition, there is a fierce competition between the firms in the market.Reason (R): In monopolistic competition, there are a large number of sellers and buyers in the market.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): In monopolistic competition, there is a fierce competition between the firms in the market.Reason (R): In monopolistic competition, there are a large number of sellers and buyers in the market.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): In monopolistic competition, there is a fierce competition between the firms in the market.Reason (R): In monopolistic competition, there are a large number of sellers and buyers in the market.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): In monopolistic competition, there is a fierce competition between the firms in the market.Reason (R): In monopolistic competition, there are a large number of sellers and buyers in the market.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): In monopolistic competition, there is a fierce competition between the firms in the market.Reason (R): In monopolistic competition, there are a large number of sellers and buyers in the market.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice Commerce tests.
|
|
Explore Courses for Commerce exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup