CA Foundation Exam > CA Foundation Videos > Business Economics for CA Foundation > Price determination in Perfect Market, Economics
Price determination in Perfect Market, Economics Video Lecture | Business Economics for CA Foundation
|
124 videos|191 docs|88 tests
|
FAQs on Price determination in Perfect Market, Economics Video Lecture - Business Economics for CA Foundation
| 1. What is a perfect market in economics? |  |
Ans. A perfect market is a theoretical concept in economics that represents a market situation where there is perfect competition, perfect information, homogeneous products, no barriers to entry or exit, and where all buyers and sellers have perfect knowledge about prices and quantities.
| 2. How is price determined in a perfect market? | |
Ans. In a perfect market, price is determined by the equilibrium point where the demand and supply curves intersect. At this point, the quantity demanded by buyers is equal to the quantity supplied by sellers, resulting in an equilibrium price. Any deviation from this equilibrium price will lead to either excess demand or excess supply, creating price adjustments in the market.
| 3. What are the factors that can affect price determination in a perfect market? | |
Ans. Several factors can affect price determination in a perfect market, including changes in demand and supply, production costs, technological advancements, government regulations, and market competition. Any change in these factors can shift the demand or supply curve, leading to changes in the equilibrium price.
| 4. How does perfect competition impact price determination in a perfect market? | |
Ans. Perfect competition in a perfect market ensures that no individual buyer or seller has the power to influence the market price. In a perfectly competitive market, there are numerous buyers and sellers, and each operates independently. As a result, the market price is determined solely by the forces of demand and supply, without any external interference.
| 5. What are the advantages of price determination in a perfect market? | |
Ans. Price determination in a perfect market offers several advantages, including allocative efficiency, consumer welfare, and productive efficiency. Allocative efficiency ensures that resources are allocated to their most valued uses, while consumer welfare is enhanced as prices are determined by market forces rather than individual entities. Additionally, productive efficiency is achieved as firms strive to minimize costs and maximize productivity in a competitive environment.
Related Exams
About this Video
|
4.95/5 Rating |
|
Dec 20, 2024 Last updated |
Video Description: Price determination in Perfect Market, Economics for CA Foundation 2024 is part of Business Economics for CA Foundation preparation.
The notes and questions for Price determination in Perfect Market, Economics have been prepared according to the CA Foundation exam syllabus.
Information about Price determination in Perfect Market, Economics covers all important topics for CA Foundation 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Price determination in Perfect Market, Economics.
Introduction of Price determination in Perfect Market, Economics in English is available as part of our Business Economics for CA Foundation for CA Foundation & Price determination in Perfect Market, Economics in
Hindi for Business Economics for CA Foundation course. Download more important topics related with notes, lectures and mock test series for
CA Foundation Exam by signing up for free.
Description
Video Lecture & Questions for Price determination in Perfect Market, Economics Video Lecture | Business Economics for CA Foundation - CA Foundation full syllabus preparation | Free video for CA Foundation exam to prepare for Business Economics for CA Foundation.
Information about Price determination in Perfect Market, Economics
Here you can find the meaning of Price determination in Perfect Market, Economics defined & explained in the simplest way possible.
Besides explaining types of Price determination in Perfect Market, Economics theory, EduRev gives you an ample number of questions to practice Price determination in Perfect Market, Economics tests,
examples and also practice CA Foundation tests.
|
124 videos|191 docs|88 tests
|
|
Explore Courses for CA Foundation exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Important questions
,study material
,Extra Questions
,mock tests for examination
,Previous Year Questions with Solutions
,shortcuts and tricks
,Semester Notes
,Price determination in Perfect Market
,Economics Video Lecture | Business Economics for CA Foundation
,Summary
,Viva Questions
,Economics Video Lecture | Business Economics for CA Foundation
,Free
,Economics Video Lecture | Business Economics for CA Foundation
,Price determination in Perfect Market
,MCQs
,video lectures
,Exam
,Objective type Questions
,Price determination in Perfect Market
,ppt
,practice quizzes
,Sample Paper
,past year papers
;
Study Price determination in Perfect Market, Economics on the App
Students of CA Foundation can study Price determination in Perfect Market, Economics alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Price determination in Perfect Market, Economics,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Price determination in Perfect Market, Economics is prepared as per the latest CA Foundation syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup