PERFECT COMPETITION
Authored by Stuti Mehra
Social Studies
12th Grade
Used 1+ times
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7 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
MARKET FORMS are classified on the basis of intensity of competition. More the competition
More the power to influence price
Less the power to influence price
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a perfectly competitive market individual firms have the power to influence price.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In Perfect Competition there are large number of buyers but less sellers.
False
True
4.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
Equilibrium price is determined at the (a) of demand and supply curves.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Demand is directly related to price. As price of a good increases its demand also increases.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Supply of a good has a direct relation with the price of the good. Price increases supply increases.
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Excess Demand is wiped off by _________ the price of the good.
increasing
decreasing
not changing
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