Question # 1

The kind of market is undesirable

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general market

specialized market

local market

monopoly market

Extent of market mainly depends upon.

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Availability of means of transport and communication

Nature of supply

Government restriction

Perishable goods

The supply curve of day to day market is.

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Touching the horizontal axis

Touching the vertical axis

Perfactly elastic

Perfactly inelastic

Which is NOTtrue

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perfect monopoly does not exist in real world

perfect competition does not exist in real world

every monopoly is evil

every firm wants to reduce competition

How many types of markets according to location

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4

5

6

7

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

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Revenue curve under perfect competition

Monopoly curve

Total revenue curve

None of these

Stock exchange is market where we can buy:

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Shares

Foreign exchange

Factors of production

Consumer goods

Buyers and sellers under perfect competition are.

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The same in number

Large in number

Small in number

None of the above

The major difference between perfect competition and monopolistic competition is

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unity of frims

differentiated product

rate of profit

free exit and entry

In case of perfect competition in the market

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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

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Market

Revenue curve

Contact

None of these

A monopolist is always interested and obtains.

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Normal profit

Subnormal profit

Continues production even at loss

Super normal profit

The market of refrigerators in general is called:

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Domestic market

Local market

International market

National market

How many kinds of market?

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4

5

6

7

Normal price is a price which prevails

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In day to day market

In domestic market

In the long run market

In a foreign market

Which of the following is NOTa characteristic of perfect competition?

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free entry and exit of the firm

demand curve of a firm is horizontal

marginal revenue curve is horizontal

individual firm can influence the price

In case of monopoly

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marginal revenue curve always slopes upward

total revenue curve always slopes upward

marginal revenue is always equal to average revenue

marginal revenue is always less than average revenue

A short period market is the market of.

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Perishable goods

Durable goods

Consumer goods

Capital goods

A monopoly market can be controlled by.

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Fixing of the price by the government

Administrative measures

Introduction of substitutes

Nationalisation

Market is an area where :

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Products are sold

Buyers and sellers come in contact with each other

Price flactuates

Price remain constant

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