1 |
How many types of markets according to location |
|
2 |
A short period market is the market of. |
- A. Perishable goods
- B. Durable goods
- C. Consumer goods
- D. Capital goods
|
3 |
Normal price is a price which prevails |
- A. In day to day market
- B. In domestic market
- C. In the long run market
- D. In a foreign market
|
4 |
Which one of the following is a day to day market. |
- A. The market of perishable goods
- B. The market of refrigerators
- C. The market of stationary
- D. None of the three
|
5 |
Under perfect competition MR and AR curves |
- A. are the same
- B. are different
- C. intersect each other
- D. are parallel
|
6 |
The concept of perfect competition was introduced by. |
- A. Adam Smith
- B. Alfred Marshall
- C. Keynes
- D. Malthus
|
7 |
The major difference between perfect competition and monopolistic competition is |
- A. unity of frims
- B. differentiated product
- C. rate of profit
- D. free exit and entry
|
8 |
Extent of market mainly depends upon. |
- A. Availability of means of transport and communication
- B. Nature of supply
- C. Government restriction
- D. Perishable goods
|
9 |
Buyers and sellers under perfect competition are. |
- A. The same in number
- B. Large in number
- C. Small in number
- D. None of the above
|
10 |
Product differentiation is a pre-condition of: |
- A. Perfect competition
- B. Imperfect compitition
- C. Monopoly
- D. Oligopoly
|