| 1 |
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
|
| 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 firm under perfect competition is |
- A. price maker
- B. price breaker
- C. price taker
- D. price shaker
|
| 4 |
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
|
| 5 |
Product differentiation is a pre-condition of: |
- A. Perfect competition
- B. Imperfect compitition
- C. Monopoly
- D. Oligopoly
|
| 6 |
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
|
| 7 |
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
|
| 8 |
A monopoly market can be controlled by. |
- A. Fixing of the price by the government
- B. Administrative measures
- C. Introduction of substitutes
- D. Nationalisation
|
| 9 |
Extent of market mainly depends upon. |
- A. Availability of means of transport and communication
- B. Nature of supply
- C. Government restriction
- D. Perishable goods
|
| 10 |
How many types of markets according to time |
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