A situation of large number of firms producing similar goods is termed as :

Related MCQs

• The value of the output of all goods and services produced within a nation's borders, normally given as a total for the year. It thus includes the production of foreign owned firms within the country, but excludes the income from domestically owned firms located abroad, is called:
• A market in which there are a few number of large firms is called as
• Preferential treatment for firms that sell their products abroad, compared with firms that sell to the home market; is called:
• Different firms constituting the industry, produce homogeneous goods under
• When too much money is chasing too few goods, the situation is -
• When too much money is chasing too few goods, the situation is -
• Consumer goods that yield services or utility over time rather than being used up instantly are termed as
• A trade of goods and services in the exchange for other goods or services rather than for money is known as:
• The goods and services produced by one country that are sold in exchange for the second country’s own goods and services or for foreign exchange are called
• The excess of the value of imports of goods and services over the value of exports of goods and services is called: