| 1 |
Product differentiation is a pre-condition of: |
- A. Perfect competition
- B. Imperfect compitition
- C. Monopoly
- D. Oligopoly
|
| 2 |
Which of the following markets comes closest to perfect market |
- A. wheat market
- B. cigarette market
- C. cold drinks market
- D. stock market
|
| 3 |
How many types of markets according to time |
|
| 4 |
A monopolist is always interested and obtains. |
- A. Normal profit
- B. Subnormal profit
- C. Continues production even at loss
- D. Super normal profit
|
| 5 |
Which of the following is one of the assumptions of perfect competition. |
- A. few buyers and few sellers
- B. many buyers and few sellers
- C. many buyers and many sellers
- D. all sellers and buyers are honest
|
| 6 |
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
|
| 7 |
Different kinds of imperfect competition are. |
- A. Monopoly
- B. Monopolistic competition
- C. Oligopoly
- D. All the three
|
| 8 |
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
|
| 9 |
The concept of perfect competition was introduced by. |
- A. Adam Smith
- B. Alfred Marshall
- C. Keynes
- D. Malthus
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| 10 |
In case of perfect competition in the market |
- A. marginal revenue curve always slopes upward
- B. marginal revenue curve always slopes downward
- C. marginal revenue is always equal to average revenue
- D. marginal revenue is always less than to average revenue
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