WorksheetsEconomics
Total questions: 10
Worksheet time: 3mins
The above image represents which type of market?
Monopoly
Monopolistic Competition
Perfect Competition
Oligopoly
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
Cartel formation is most likely to happen under which market?
Perfect Competition
Monopoly
Oligopoly
Monopolistic Competition
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
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
In perfect competition, the seller is a price maker.
True
False
Monopolistic Competition has large number of sellers
True
False
A market is a well defined geographical area where buyers and sellers meet.
True
False
Cartel formation takes place in monopoly.
True
False
A new firm can easily enter in which market?
Oligopoly
Monopoly
Perfectly competitive
All of the above
