Multiple choice

Match the following.

 
List-I
List -II
(a) Perfect competition
(i) No control
(b) Monopolistic competition
(ii) Some Control
(c) Oligopoly
(iii) Practically Some Control
(d) Monopoly
(iv) Usual control

  1. (a) - (i), (b) - (ii), (c) - (iii), (d) - (iv)

  2. (a) - (ii), (b) - (iii), (c) - (iv), (d) - (i)

  3. (a) - (iii), (b) - (ii), (c) - (iv), (d) - (i)

  4. (a) - (iv), (b) - (iii), (c) - (ii), (d) - (i)
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A Correct answer
Explanation

Perfect competition has no control over price (price takers). Monopolistic competition has some control through product differentiation. Oligopoly has practically some control due to interdependence among few firms. Monopoly has usual (full) control over price and output. The matching correctly pairs each market structure with its degree of price control.

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