| 1 |
Extent of market mainly depends upon. |
- A. Availability of means of transport and communication
- B. Nature of supply
- C. Government restriction
- D. Perishable goods
|
| 2 |
A short period market is the market of. |
- A. Perishable goods
- B. Durable goods
- C. Consumer goods
- D. Capital goods
|
| 3 |
Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called |
- A. Revenue curve under perfect competition
- B. Monopoly curve
- C. Total revenue curve
- D. None of these
|
| 4 |
Different prices are charged from different customers of the same product. This is called. |
- A. Short run price
- B. Price instability
- C. Price discrimination
- D. Long run price
|
| 5 |
A group of buyers and sellers that exchange a goods or services at a price are called |
- A. Market
- B. Commodity
- C. Place
- D. None of these
|
| 6 |
Under perfect competition MR and AR curves |
- A. are the same
- B. are different
- C. intersect each other
- D. are parallel
|
| 7 |
Which of the following markets comes closest to perfect market |
- A. wheat market
- B. cigarette market
- C. cold drinks market
- D. stock market
|
| 8 |
In case of monopoly |
- A. marginal revenue curve always slopes upward
- B. total revenue curve always slopes upward
- C. marginal revenue is always equal to average revenue
- D. marginal revenue is always less than average revenue
|
| 9 |
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called |
- A. Market
- B. Revenue curve
- C. Contact
- D. None of these
|
| 10 |
Which of the following is <i>NOT</i>a characteristic of perfect competition? |
- A. free entry and exit of the firm
- B. demand curve of a firm is horizontal
- C. marginal revenue curve is horizontal
- D. individual firm can influence the price
|
