CBSE  /  Class 11  /  Economics  /  Market Equilibrium

  • 1. 
    Which is a characteristic of the market ?

  • One Area
  • Presence of both Buyers and Sellers
  • Single Price of the Commodity
  • All the above

  • 2. 
    Which is a basic for the classification of the market ?

  • Perfect Competition
  • Zero Competition (Monopoly)
  • Imperfect Competition
  • All the above

  • 3. 
    Which of the following is a feature of perfect competition ?

  • Large Number of Buyers and Sellers
  • Homogeneous Units of the Product
  • Perfect Knowledge of the Market
  • All the above

  • 4. 
    In which market product differentiation is found ?

  • Pure Competition
  • Perfect Competition
  • Monopoly
  • Monopolistic Competition

  • 5. 
    Which of the following is true in perfect competition ?

  • Firm is price-taker, not price-maker
  • Firm’s demand curve is perfectly elastic
  • AR = MR
  • All the above

  • 6. 
    Which one is a feature of monopoly ?

  • Single Seller and Many Buyers
  • Lack of Close Substitutes
  • Restrictions of New Firm entry
  • All of these

  • 7. 
    Which one of the following is true for monopoly ?

  • Firm is price-maker
  • Demand curve slopes downward
  • Price discrimination possibility arises
  • All the above

  • 8. 
    Which one is a feature of monopolistic competition ?

  • Differentiated Product
  • Selling Cost
  • Imperfect Knowledge of the Market
  • All the above

  • 9. 
    A market in which there is free entry and exit, the market is:

  • Monopolistic Competitive Market
  • Imperfect Competitive Market
  • Perfectly Competitive Market
  • None of these

  • 10. 
    What does a monopolist market show ?

  • Production process
  • Distribution system
  • Nature of market
  • None of these
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