Economics
Authored by Pooja Joshi
Others
University
Used 3+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 2 pts
The above image represents which type of market?
Monopoly
Monopolistic Competition
Perfect Competition
Oligopoly
2.
MULTIPLE CHOICE QUESTION
20 sec • 2 pts
What prevents a seller in Perfect Competition to influence the price?
Similarity of products
Large number of sellers
Effective advertising by other sellers
Interdependence of firms
3.
MULTIPLE CHOICE QUESTION
20 sec • 2 pts
Cartel formation is most likely to happen under which market?
Perfect Competition
Monopoly
Oligopoly
Monopolistic Competition
4.
MULTIPLE CHOICE QUESTION
20 sec • 2 pts
Which of the following is not true of a market?
It brings buyers and sellers in contact
It is confined to a place
Its structure is determined by nature of commodity
It is shaped by technology
5.
MULTIPLE CHOICE QUESTION
20 sec • 2 pts
Which of the following is a feature of oligopoly?
Products are always identical
Products do not have any substitute
Products may be differentiated
None of the above
6.
MULTIPLE CHOICE QUESTION
20 sec • 2 pts
In perfect competition, the seller is a price maker.
True
False
7.
MULTIPLE CHOICE QUESTION
20 sec • 2 pts
Monopolistic Competition has large number of sellers
True
False
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