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- Subject
- Economics Mcqseconomics-mcqs
- Published
- 25 Feb 2025
- Last updated
- 28 May 2026
Which of the following is not considered a fundamental assumption of perfect competition?
Multiple choice question for Economics Mcqs. Select an option, then review the explanation below.
Explanation
Perfect competition is characterized by many buyers and sellers, free entry and exit in the market, and identical (homogeneous) products. However, the assumption of perfect information is idealized and rarely holds true in actual markets, where information asymmetry is common.
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Practice related questions from the same subject.
- 1.According to the World Bank, countries are grouped into four categories based on which of the following criteria?
- 2.Automatic stabilizers belong to which category of economic policy tools?
- 3.What is the likely effect of an increase in the money supply?
- 4.Which economic concept illustrates the inverse connection between inflation and unemployment?
- 5.Which of the following does not constitute a part of the Gross Domestic Product (GDP)?