Question # 1

Malaysia enjoys monopoly on rubber, but which kind of monopoluit is.

Choose an answer

Natural monopoly

Social monopoly

Legal monopoly

Implied monopoly

In the business world

Choose an answer

a firm working under perfect competition wants to become a monopoly

a firm working under monopoly wants to become a competitive firm

monopoly price is always higher than competitive price

competitive price is always higher than monopoly price

A short period market is the market of.

Choose an answer

Perishable goods

Durable goods

Consumer goods

Capital goods

Which is a condition for existence of monopoly

Choose an answer

big size

identical product

absence of government taxes

no close substitute

A firm under perfect competition is

Choose an answer

price maker

price breaker

price taker

price shaker

How many kinds of market?

Choose an answer

4

5

6

7

The market of refrigerators in general is called:

Choose an answer

Domestic market

Local market

International market

National market

How many types of markets according to time

Choose an answer

3

4

5

6

The concept of perfect competition was introduced by.

Choose an answer

Adam Smith

Alfred Marshall

Keynes

Malthus

Which of the following markets comes closest to perfect market

Choose an answer

wheat market

cigarette market

cold drinks market

stock market

Product differentiation is a pre-condition of:

Choose an answer

Perfect competition

Imperfect compitition

Monopoly

Oligopoly

Normal price is a price which prevails

Choose an answer

In day to day market

In domestic market

In the long run market

In a foreign market

Different kinds of imperfect competition are.

Choose an answer

Monopoly

Monopolistic competition

Oligopoly

All the three

A monopolist is always interested and obtains.

Choose an answer

Normal profit

Subnormal profit

Continues production even at loss

Super normal profit

Common market of SAARC countries will be called:

Choose an answer

International market

National market

Regional market

None of the three

In case of perfect competition in the market

Choose an answer

marginal revenue curve always slopes upward

marginal revenue curve always slopes downward

marginal revenue is always equal to average revenue

marginal revenue is always less than to average revenue

A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called

Choose an answer

Market

Revenue curve

Contact

None of these

Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called

Choose an answer

Revenue curve under perfect competition

Monopoly curve

Total revenue curve

None of these

Which of the following is one of the assumptions of perfect competition.

Choose an answer

few buyers and few sellers

many buyers and few sellers

many buyers and many sellers

all sellers and buyers are honest

Different prices are charged from different customers of the same product. This is called.

Choose an answer

Short run price

Price instability

Price discrimination

Long run price

More Classes

Other Links

Economics Ics Part 1 English Medium Chapter 12 Online Test MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer