Which city is also famous for diamonds?
  • Mumbai
  • Delhi
  • Surat
  • Hyderabad
What helps consumers choose the best product?
  • Fancy ads
  • Loud sellers
  • Quality marks and reviews
  • Packaging only
What is the function of a distributor?
  • Creates apps
  • Connects producer to consumer
  • Sells to wholesalers
  • Buys from consumers
What does the BEE star rating show?
  • Quality
  • Energy efficiency
  • Brand value
  • Warranty
Ima Keithal is a:
  • Government office
  • School market
  • Women-led market in Manipur
  • Temple
What happens in international markets?
  • Local buying
  • Buying and selling across countries
  • Online gaming
  • Road markets
What is the role of manufacturers in the market chain?
  • Buy from shops
  • Distribute goods
  • Produce goods
  • Import goods
Who are final users of goods?
  • Retailers
  • Wholesalers
  • Consumers
  • Manufacturers
Price is affected by:
  • Number of buyers
  • Bargaining only
  • Demand and supply
  • Retailer mood
Which of these is an example of retail market?
  • Factory
  • Wholesale market
  • Grocery store
  • Warehouse
Which of the following is NOT a role of markets?
  • Connecting buyers and sellers
  • Fixing weather
  • Distributing goods
  • Promoting trade
Which certification applies to construction materials?
  • FSSAI
  • ISI
  • BEE
  • AGMARK
What does demand mean?
  • Number of sellers
  • Consumer’s willingness to buy
  • Importing goods
  • Raising prices
What are the two types of markets?
  • Goods and services
  • Physical and intangible
  • Perfect competition and monopoly
  • Oligopoly and monopolistic competition
What characterizes perfect competition?
  • Many producers sell the same product.
  • Only one supplier exists.
  • A few large firms dominate the market.
  • Products are similar but different.
What is an oligopoly?
  • A market with many producers.
  • A market with only a few large firms.
  • A market with one supplier.
  • A market with no competition.
What is monopolistic competition?
  • Many businesses sell similar but different products.
  • Only one supplier exists.
  • A few large firms dominate the market.
  • Products are identical.
What is a monopoly?
  • A market structure with one supplier.
  • A market with many producers.
  • A market with no competition.
  • A market with a few large firms.
What is the labor market?
  • A place where employers look for employees.
  • A market for goods and services.
  • A financial market.
  • A market with only one supplier.
What does the financial market consist of?
  • Money market and capital market.
  • Goods and services market.
  • Labor market.
  • Monopolistic competition.
Which of the following is an example of a market?
  • A football match
  • A school classroom
  • An online clothing website
  • A weather forecast
Who are the main participants in a market?
  • Buyers and sellers
  • Teachers and students
  • Government and businesses only
  • Banks and hospitals
What does the market equilibrium show?
  • The point where government sets prices
  • The balance where demand equals supply
  • A shortage in the market
  • An excess supply of goods
If price is set above equilibrium, what happens?
  • Shortage
  • Surplus
  • Equilibrium
  • Demand increases
If price is set below equilibrium, what happens?
  • Surplus
  • Market closes
  • Shortage
  • No change
Which of these belongs to microeconomics?
  • Inflation in a country
  • Unemployment rate
  • The demand for pizza in one town
  • National economic growth
Which of these belongs to macroeconomics?
  • Demand for bubble tea
  • Price of cinema tickets
  • A household’s spending
  • Country’s overall GDP growth
The three economic questions are:
  • What to buy, how to buy, where to buy
  • What to produce, how to produce, for whom to produce
  • When to produce, how much to produce, who sells it
  • Why to produce, who consumes, who owns it
On a demand curve, what happens when price falls?
  • Contraction in demand
  • Extension in demand
  • Supply decreases
  • No change
On a demand curve, what happens when price rises?
  • Contraction in demand
  • Extension in demand
  • Supply increases
  • Equilibrium shifts
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