Forms of Market and Price Determination Test

Result

Forms of Market and Price Determination Test - 1

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Weekly Quiz Competition

Question 1
1 / -0

Market refers to:

A
the geographical area where only sale of goods and services is done

B
the geographical area where only purchase of goods and services is done

C
the mechanism of sale and purchase of goods and services

D
none of these
Question 2
1 / -0

Categorisation of market into different forms depends upon:

A
direction of competition

B
degree of competition

C
number of firms

D
both (b) and (c)
Question 3
1 / -0

Size of the market is large when:

A
the number of the buyers is large

B
the sale and purchase of a commodity is large

C
the number of sellers is large

D
the degree of competition is large
Question 4
1 / -0

Under perfect competition, a firm has:

A
no control over price

B
partial control over price

C
full control over price

D
none of these
Question 5
1 / -0

Under perfect competition, a firm:

A
is a price taker

B
is a price maker

C
both (a) and (b)

D
none of these
Question 6
1 / -0

Which of the following is a characteristic of perfect competition?

A
Single seller

B
Product differentiation

C
Perfect mobility of the factors

D
Entry barriers
Question 7
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Zero degree of product differentiation is found under:

A
monopoly

B
monopolistic competition

C
oligopoly

D
none of these
Question 8
1 / -0

In comparison to other market forms, perfect competition facilitates:

A
lowest output and higher price

B
highest output and lowest price

C
both highest output and highest price

D
both lowest output and lowest price
Question 9
1 / -0

Firms in the long run earn normal profits because of:

A
free entry

B
free exit

C
free entry as well as free exit

D
none of these
Question 10
1 / -0

Optimum level of output is that level of output where:

A
AVC for each firm is the lowest

B
AC for each firm is the lowest

C
TVC for each firm is the lowest

D
TC for each firm is the lowest

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Re-Attempt Weekly Quiz Competition

Forms of Market and Price Determination Test - 1

Result

Forms of Market and Price Determination Test - 1

Score

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Rank

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SHARING IS CARING

Question 1

the geographical area where only sale of goods and services is done

the geographical area where only purchase of goods and services is done

the mechanism of sale and purchase of goods and services

none of these

Question 2

direction of competition

degree of competition

number of firms

both (b) and (c)

Question 3

the number of the buyers is large

the sale and purchase of a commodity is large

the number of sellers is large

the degree of competition is large

Question 4

no control over price

partial control over price

full control over price

none of these

Question 5

is a price taker

is a price maker

both (a) and (b)

none of these

Question 6

Single seller

Product differentiation

Perfect mobility of the factors

Entry barriers

Question 7

monopoly

monopolistic competition

oligopoly

none of these

Question 8

lowest output and higher price

highest output and lowest price

both highest output and highest price

both lowest output and lowest price

Question 9

free entry

free exit

free entry as well as free exit

none of these

Question 10

AVC for each firm is the lowest

AC for each firm is the lowest

TVC for each firm is the lowest

TC for each firm is the lowest

User

Question Analysis

My Perfomance

Score

-

Rank

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