| 1 |
Which of the following markets comes closest to perfect market |
- A. wheat market
- B. cigarette market
- C. cold drinks market
- D. stock market
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| 2 |
A short period market is the market of. |
- A. Perishable goods
- B. Durable goods
- C. Consumer goods
- D. Capital goods
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| 3 |
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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| 4 |
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called |
- A. Market
- B. Revenue curve
- C. Contact
- D. None of these
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| 5 |
In the business world |
- A. a firm working under perfect competition wants to become a monopoly
- B. a firm working under monopoly wants to become a competitive firm
- C. monopoly price is always higher than competitive price
- D. competitive price is always higher than monopoly price
|
| 6 |
Which is a condition for existence of monopoly |
- A. big size
- B. identical product
- C. absence of government taxes
- D. no close substitute
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| 7 |
The extent of market depends upon |
- A. Means of transport and communication
- B. Political instability
- C. Economics instability
- D. Trade restriction
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| 8 |
Which one of the following is a day to day market. |
- A. The market of perishable goods
- B. The market of refrigerators
- C. The market of stationary
- D. None of the three
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| 9 |
The supply curve of day to day market is. |
- A. Touching the horizontal axis
- B. Touching the vertical axis
- C. Perfactly elastic
- D. Perfactly inelastic
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| 10 |
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
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