Which is a characteristic of the market ?
  • One Area
  • Presence of both Buyers and Sellers
  • Single Price of the Commodity
  • All the above
Which is a basic for the classification of the market ?
  • Perfect Competition
  • Zero Competition (Monopoly)
  • Imperfect Competition
  • All the above
Which of the following is a feature of perfect competition ?
  • Large Number of Buyers and Sellers
  • Homogeneous Units of the Product
  • Perfect Knowledge of the Market
  • All the above
In which market product differentiation is found ?
  • Pure Competition
  • Perfect Competition
  • Monopoly
  • Monopolistic Competition
Which of the following is true in perfect competition ?
  • Firm is price-taker, not price-maker
  • Firm’s demand curve is perfectly elastic
  • AR = MR
  • All the above
Which one is a feature of monopoly ?
  • Single Seller and Many Buyers
  • Lack of Close Substitutes
  • Restrictions of New Firm entry
  • All of these
Which one of the following is true for monopoly ?
  • Firm is price-maker
  • Demand curve slopes downward
  • Price discrimination possibility arises
  • All the above
Which one is a feature of monopolistic competition ?
  • Differentiated Product
  • Selling Cost
  • Imperfect Knowledge of the Market
  • All the above
A market in which there is free entry and exit, the market is:
  • Monopolistic Competitive Market
  • Imperfect Competitive Market
  • Perfectly Competitive Market
  • None of these
What does a monopolist market show ?
  • Production process
  • Distribution system
  • Nature of market
  • None of these
Price discrimination is found in which market ?
  • Pure Competition
  • Perfect Competition
  • Monopoly
  • Monopolistic Competition
Which of the following is the feature of pure competition ?
  • Perfect knowledge of the market
  • Perfect mobility of factors
  • Homogenity by products
  • All the above
Market situation where there is only one buyer is:
  • Monopoly
  • Monopsony
  • Duropoly
  • None of these
The concept of monopolistic competition is given by:
  • Hicks
  • Chamberlin
  • Mrs. Robinson
  • Samuelson
Which of the following is not a feature of perfect competition ?
  • Large number of buyers and sellers
  • Homogeneity of product
  • Advertisement and selling cost
  • Perfect knowledge of the market
In which market is AR equal to MR ?
  • Perfect competition
  • Oligopoly
  • Imperfect competition
  • Monopoly
Which factor determines Equilibrium Price ?
  • Demand for Commodity
  • Supply of Commodity
  • Both (a) and (b)
  • None of the above
“Price is determined by Demand and Supply. Whose statement is this ?
  • Jevons
  • Walras
  • Marshall
  • None of these
Price of a commodity is determined at a point where :
  • Demand exceeds
  • Supply exceeds
  • Demand equals supply
  • None of these
What is true for perfect competition market ?
  • Price is determined by both Demand and Supply Forces
  • Price is determined by the industry
  • Each firm of the industry is Price-taker
  • All the above
0 h : 0 m : 1 s

Answered Not Answered Not Visited Correct : 0 Incorrect : 0