{"id":44567,"date":"2024-04-15T21:45:34","date_gmt":"2024-04-15T21:45:34","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=44567"},"modified":"2024-04-15T21:45:34","modified_gmt":"2024-04-15T21:45:34","slug":"match-the-following-list-i-types-of-market-structures-list-ii-methods-of-marketing-a-perfect-competition-1-market-exchange-b-monopolistic-competition-2-competitive-advertising-c-oligopoly-3","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/match-the-following-list-i-types-of-market-structures-list-ii-methods-of-marketing-a-perfect-competition-1-market-exchange-b-monopolistic-competition-2-competitive-advertising-c-oligopoly-3\/","title":{"rendered":"Match the following. List-I (Types of Market Structures) List-II (Methods of Marketing) a. Perfect competition 1. Market exchange b. Monopolistic competition 2. Competitive advertising c. Oligopoly 3. Quality d. Monopoly 4. Promotional advertising"},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a97d90585bfc\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"false\">\r\n                    a-1, b-2, c-3, d-4                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"false\">\r\n                    a-3, b-1, c-2, d-4                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"false\">\r\n                    a-2, b-4, c-3, d-1                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"true\">\r\n                    a-1, b-2, c-4, d-3                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is: <strong>D. a-1, b-2, c-4, d-3<\/strong><\/p>\n<ul>\n<li><strong>Perfect competition<\/strong> is a market structure in which there are many buyers and sellers of a homogeneous product, and no one buyer or seller has a significant impact on the market price. In a perfectly competitive market, firms engage in <strong>market exchange<\/strong>, which is the process of buying and selling goods and services.<\/li>\n<li><strong>Monopolistic competition<\/strong> is a market structure in which there are many buyers and sellers of a differentiated product, and no one buyer or seller has a significant impact on the market price. In a monopolistically competitive market, firms engage in <strong>competitive advertising<\/strong>, which is the use of advertising to promote a product or service in order to increase sales and profits.<\/li>\n<li><strong>Oligopoly<\/strong> is a market structure in which there are a few large buyers and sellers of a homogeneous or differentiated product, and each buyer or seller has a significant impact on the market price. In an oligopolistic market, firms engage in <strong>quality competition<\/strong>, which is the use of product quality to differentiate a product from the products of competitors.<\/li>\n<li><strong>Monopoly<\/strong> is a market structure in which there is only one buyer or seller of a good or service. In a monopoly market, the firm engages in <strong>promotional advertising<\/strong>, which is the use of advertising to promote a product or service in order to create a positive image for the firm or the product.<\/li>\n<\/ul>\n<p>Here is a more detailed explanation of each market structure and the corresponding method of marketing:<\/p>\n<ul>\n<li><strong>Perfect competition<\/strong> is a market structure in which there are many buyers and sellers of a homogeneous product, and no one buyer or seller has a significant impact on the market price. In a perfectly competitive market, firms are price-takers, meaning that they must accept the market price for their product. This is because there are so many firms in the market that any attempt by one firm to raise its price would result in a loss of sales to other firms. As a result, firms in a perfectly competitive market must focus on reducing costs in order to maximize profits.<\/li>\n<li><strong>Monopolistic competition<\/strong> is a market structure in which there are many buyers and sellers of a differentiated product, and no one buyer or seller has a significant impact on the market price. In a monopolistically competitive market, firms are price-makers, meaning that they can set their own prices. This is because there are a limited number of firms in the market, and each firm&#8217;s product is slightly different from the products of other firms. As <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div> a result, firms in a monopolistically competitive market can charge a price that <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> is above the marginal cost of production. However, firms in a monopolistically competitive market must still be careful not to raise their prices too high, or they will lose sales to other firms.<\/li>\n<li><strong>Oligopoly<\/strong> is a market structure in which there are a few large buyers and sellers of a homogeneous or differentiated product, and each buyer or seller has a significant impact on the market price. In an oligopolistic market, firms are price-makers, meaning that they can set their own prices. This is because there are a limited number of firms in the market, and each firm&#8217;s product is similar to the products of other firms. As a result, firms in an oligopolistic market can collude to set prices or engage in other forms of anti-competitive behavior.<\/li>\n<li><strong>Monopoly<\/strong> is a market structure in which there is only one buyer or seller of a good or service. In a monopoly market, the firm is the price-maker, meaning that it can set its own prices. This is because there are no other firms in the market to compete with. As a result, firms in a monopoly market can charge very high prices and still make a profit. However, monopolies are often regulated by the government in order to protect consumers from high prices.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Join Our Telegram Channel Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Match the following. List-I (Types of Market Structures) List-II (Methods of Marketing) a. Perfect competition 1. Market exchange b. Monopolistic competition 2. Competitive advertising c. Oligopoly 3. Quality d. Monopoly 4. 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