| 1 |
Which of the following markets comes closest to perfect market |
- A. wheat market
- B. cigarette market
- C. cold drinks market
- D. stock market
|
| 2 |
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
|
| 3 |
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
|
| 4 |
The concept of perfect competition was introduced by. |
- A. Adam Smith
- B. Alfred Marshall
- C. Keynes
- D. Malthus
|
| 5 |
How many kinds of market? |
|
| 6 |
A monopolist is always interested and obtains. |
- A. Normal profit
- B. Subnormal profit
- C. Continues production even at loss
- D. Super normal profit
|
| 7 |
A short period market is the market of. |
- A. Perishable goods
- B. Durable goods
- C. Consumer goods
- D. Capital goods
|
| 8 |
Market is an area where : |
- A. Products are sold
- B. Buyers and sellers come in contact with each other
- C. Price flactuates
- D. Price remain constant
|
| 9 |
Which is <i>NOT</i>true |
- A. perfect monopoly does not exist in real world
- B. perfect competition does not exist in real world
- C. every monopoly is evil
- D. every firm wants to reduce competition
|
| 10 |
Different kinds of imperfect competition are. |
- A. Monopoly
- B. Monopolistic competition
- C. Oligopoly
- D. All the three
|
