| 1 |
The concept of perfect competition was introduced by. |
- A. Adam Smith
- B. Alfred Marshall
- C. Keynes
- D. Malthus
|
| 2 |
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
|
| 3 |
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
|
| 4 |
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
|
| 5 |
How many kinds of market? |
|
| 6 |
When marginal revenue is zero, total revenue is |
- A. maximum
- B. minimum
- C. zero
- D. decreasing
|
| 7 |
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
|
| 8 |
How many types of markets according to time |
|
| 9 |
Common market of SAARC countries will be called: |
- A. International market
- B. National market
- C. Regional market
- D. None of the three
|
| 10 |
The kind of market is undesirable |
- A. general market
- B. specialized market
- C. local market
- D. monopoly market
|
