[{"id":106690,"question":"How many types of markets according to location","choices":[{"text":"4","value":"A"},{"text":"5","value":"B"},{"text":"6","value":"C"},{"text":"7","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":106689,"question":"How many types of markets according to time","choices":[{"text":"3","value":"A"},{"text":"4","value":"B"},{"text":"5","value":"C"},{"text":"6","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":106688,"question":"A group of buyers and sellers that exchange a goods or services at a price are called","choices":[{"text":"Market","value":"A"},{"text":"Commodity","value":"B"},{"text":"Place","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":106687,"question":"A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called","choices":[{"text":"Market","value":"A"},{"text":"Revenue curve","value":"B"},{"text":"Contact","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":100625,"question":"Under perfect competition MR and AR curves","choices":[{"text":"are the same","value":"A"},{"text":"are different","value":"B"},{"text":"intersect each other","value":"C"},{"text":"are parallel","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":100623,"question":"When marginal revenue is zero, total revenue is","choices":[{"text":"maximum","value":"A"},{"text":"minimum","value":"B"},{"text":"zero","value":"C"},{"text":"decreasing","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":100622,"question":"Which of the following is <i>NOT</i>a characteristic of perfect competition?","choices":[{"text":"free entry and exit of the firm","value":"A"},{"text":"demand curve of a firm is horizontal","value":"B"},{"text":"marginal revenue curve is horizontal","value":"C"},{"text":"individual firm can influence the price","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100621,"question":"Marginal revenue is always less than price at all levels of output in","choices":[{"text":"perfect competition","value":"A"},{"text":"monopoly","value":"B"},{"text":"both A and B","value":"C"},{"text":"none of the above","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":100620,"question":"The major difference between perfect competition and monopolistic competition is","choices":[{"text":"unity of frims","value":"A"},{"text":"differentiated product","value":"B"},{"text":"rate of profit","value":"C"},{"text":"free exit and entry","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":100619,"question":"Which is <i>NOT</i>true","choices":[{"text":"perfect monopoly does not exist in real world","value":"A"},{"text":"perfect competition does not exist in real world","value":"B"},{"text":"every monopoly is evil","value":"C"},{"text":"every firm wants to reduce competition","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100618,"question":"In the business world","choices":[{"text":"a firm working under perfect competition wants to become a monopoly","value":"A"},{"text":"a firm working under monopoly wants to become a competitive firm","value":"B"},{"text":"monopoly price is always higher than competitive price","value":"C"},{"text":"competitive price is always higher than monopoly price","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":100617,"question":"In case of perfect competition in the market","choices":[{"text":"marginal revenue curve always slopes upward","value":"A"},{"text":"marginal revenue curve always slopes downward","value":"B"},{"text":"marginal revenue is always equal to average revenue","value":"C"},{"text":"marginal revenue is always less than to average revenue","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100616,"question":"In case of monopoly","choices":[{"text":"marginal revenue curve always slopes upward","value":"A"},{"text":"total revenue curve always slopes upward","value":"B"},{"text":"marginal revenue is always equal to average revenue","value":"C"},{"text":"marginal revenue is always less than average revenue","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100615,"question":"Which is a condition for existence of monopoly","choices":[{"text":"big size","value":"A"},{"text":"identical product","value":"B"},{"text":"absence of government taxes","value":"C"},{"text":"no close substitute","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100614,"question":"The kind of market is undesirable","choices":[{"text":"general market","value":"A"},{"text":"specialized market","value":"B"},{"text":"local market","value":"C"},{"text":"monopoly market","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100613,"question":"Which of the following markets comes closest to perfect market","choices":[{"text":"wheat market","value":"A"},{"text":"cigarette market","value":"B"},{"text":"cold drinks market","value":"C"},{"text":"stock market","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":100612,"question":"A firm under perfect competition is","choices":[{"text":"price maker","value":"A"},{"text":"price breaker","value":"B"},{"text":"price taker","value":"C"},{"text":"price shaker","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100611,"question":"Which of the following is one of the assumptions of perfect competition.","choices":[{"text":"few buyers and few sellers","value":"A"},{"text":"many buyers and few sellers","value":"B"},{"text":"many buyers and many sellers","value":"C"},{"text":"all sellers and buyers are honest","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100610,"question":"How many kinds of market?","choices":[{"text":"4","value":"A"},{"text":"5","value":"B"},{"text":"6","value":"C"},{"text":"7","value":"D"},{"value":"E"}],"correctAnswer":1}]