NCERT Solutions are contemplated as an exceptionally helpful book while preparing for the CBSE Class 12 Economics examinations. This study resource possesses an intense knowledge and the Solutions collated by the subject matter experts are no different.
NCERT Solution for Class 12 Economics Chapter 4 – The Theory of the Firm under Perfect Competition gives us a brief presentation of the concepts. It furnishes a clear picture of what a perfect competition means.
- Perfect Competition – Perfect competition explains a market structure where competition is at its inordinate possible degree. To make it more concise, a market which displays the following characteristic features in its composition is said to show an accurate competition.
- Characteristic features of perfect competition –
- Large number of buyers and sellers
- Homogenous or equivalent product
- Liberty of entry and exit
- Apt mobility
- Great knowledge
NCERT solutions for class 12 Economics chapter 4 provides a broad degree of illustrative examples; which helps the students to comprehend and learn quickly. The above mentioned is the illustrations for class 12 CBSE syllabus. For more solutions and study materials of NCERT solutions for class 12 Economics visit BYJU’S or download the app for more information and the best learning experience.