| 1 |
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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| 2 |
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
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| 3 |
Stock exchange is market where we can buy: |
- A. Shares
- B. Foreign exchange
- C. Factors of production
- D. Consumer goods
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| 4 |
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
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| 5 |
The market of refrigerators in general is called: |
- A. Domestic market
- B. Local market
- C. International market
- D. National market
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| 6 |
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
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| 7 |
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
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| 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
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| 9 |
Malaysia enjoys monopoly on rubber, but which kind of monopoluit is. |
- A. Natural monopoly
- B. Social monopoly
- C. Legal monopoly
- D. Implied monopoly
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| 10 |
Common market of SAARC countries will be called: |
- A. International market
- B. National market
- C. Regional market
- D. None of the three
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