Match List-I with List-II and select the correct answer using the code given below the Lists: List-I (Market structure) A) Perfect B) Monopoly C) Monopolistic D) Oligopoly List-II (Characteristic) 1) Only one competition producer selling one commodity 2)

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Q: (CDS-I/2020)
Match List-I with List-II and select the correct answer using the code given below the Lists: List-I (Market structure) A) Perfect B) Monopoly C) Monopolistic D) Oligopoly List-II (Characteristic) 1) Only one competition producer selling one commodity 2) Few producers selling similar or almost similar products 3) Many producers Competition selling Differentiated products 4) Many producers selling similar products Code:

question_subject: 

General Knowledge

question_exam: 

CDS-I

stats: 

0,39,23,11,39,10,2

keywords: 

{'oligopoly list': [0, 0, 0, 1], 'many producers competition': [0, 0, 0, 1], 'similar products code': [0, 0, 0, 1], 'monopolistic': [0, 0, 0, 1], 'monopoly': [3, 0, 4, 5], 'similar products': [0, 0, 0, 1], 'market structure': [0, 0, 0, 1], 'competition producer': [0, 0, 0, 1], 'many producers': [0, 0, 0, 1], 'differentiated products': [0, 0, 0, 2], 'few producers': [0, 0, 0, 1], 'commodity': [0, 0, 0, 1]}

Option 2 correctly matches the market structures with their characteristics. In option 2, Perfect competition (A) is matched with `Many producers selling similar products` (4), which is true as perfect competition is characterised by many firms selling homogeneous products. Monopoly (B) is paired with `Only one competition producer selling one commodity` (1). This is accurate, as in a monopoly, a single company has complete control over a product or service. Monopolistic competition (C) is linked with `Many producers Competition selling Differentiated products` (3). This is correct as in a monopolistic market, there are many firms selling differentiated products. Lastly, in an Oligopoly (D), there are `Few producers selling similar or almost similar products` (2). This holds true in an oligopoly where few firms dominate the market and produce similar goods.

Other options incorrectly pair market structures and their characteristics, resulting in inaccuracies in their representation, thereby making them incorrect.