MARKETS

______ REFERS TO A REGION WHERE THE BUYERS AND SELLERS OF A COMMODITY COME IN CONTACT WITH EACH OTHER TO EFFECT THE TRANSACTIONS OF PURCHASE AND SALE OF THE COMMODITY

• AREA

• MANDI

• MARKET

• ARENA

THE WORD 'POLUS' MEANS

• MARKET

• SELLER

• BUYER

• POLICE

FIRM IS THE PRICE TAKER IN WHICH FORM?

• WHOLESALE

• RETAIL

• PERFECT COMPETETION

• MONOPOLISTIC COMPETETION

A FIRM THAT HAS VERY LARGE NUMBERS OF BUYERS AND SELLERS IS

• PERFECT COMPETETION

• MONOPOLY

• MONOPOLISTIC COMPETETION

• NONE OF THESE

EXPENDITURE INCURRED BY THE PRODUCERS TO PROMOTE SALE OF THEIR PRODUCTS IS TERMED AS

• EXPLICIT COST

• IMPLICIT COST

• SELLING COST

• FIXED COST