CBSE  /  Class 11  /  Economics  /  Market Equilibrium

  • 1. 
    Price discrimination is found in which market ?

  • Pure Competition
  • Perfect Competition
  • Monopoly
  • Monopolistic Competition

  • 2. 
    Which of the following is the feature of pure competition ?

  • Perfect knowledge of the market
  • Perfect mobility of factors
  • Homogenity by products
  • All the above

  • 3. 
    Market situation where there is only one buyer is:

  • Monopoly
  • Monopsony
  • Duropoly
  • None of these

  • 4. 
    The concept of monopolistic competition is given by:

  • Hicks
  • Chamberlin
  • Mrs. Robinson
  • Samuelson

  • 5. 
    Which of the following is not a feature of perfect competition ?

  • Large number of buyers and sellers
  • Homogeneity of product
  • Advertisement and selling cost
  • Perfect knowledge of the market

  • 6. 
    In which market is AR equal to MR ?

  • Perfect competition
  • Oligopoly
  • Imperfect competition
  • Monopoly

  • 7. 
    Which factor determines Equilibrium Price ?

  • Demand for Commodity
  • Supply of Commodity
  • Both (a) and (b)
  • None of the above

  • 8. 
    “Price is determined by Demand and Supply. Whose statement is this ?

  • Jevons
  • Walras
  • Marshall
  • None of these

  • 9. 
    Price of a commodity is determined at a point where :

  • Demand exceeds
  • Supply exceeds
  • Demand equals supply
  • None of these

  • 10. 
    What is true for perfect competition market ?

  • Price is determined by both Demand and Supply Forces
  • Price is determined by the industry
  • Each firm of the industry is Price-taker
  • All the above
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