Q1. A monopolist is a price____
(a) Maker
(b) Taker
(c) Adjuster
(d) None of the above
Q2. Price discrimination is one of the features of _____________
(a) Monopolistic competition
(b) Monopoly
(c) Perfect competition
(d) Oligopoly
Q3. In India, one-rupee coins and notes and subsidiary coins are issued by-
(a) The Reserve Bank of India
(b) The Central Government
(c) The State Bank of India
(d) The Unit Trust of India
Q4. The process of curing inflation by reducing money supply is called-
(a) Cost-push inflation
(b) Down–pull inflation
(c) Disinflation
(d) Reflation
Q5. Under monopoly, the degree of control over price is:
(a) None
(b) Some
(c) Very considerable
(d) None of the above
Q6. Generally, perishable goods like butter, eggs, milk, vegetable etc. will have
(a) Regional market
(b) Local market
(c) National market
(d) None of the above
Q7. Durable goods and industrial items generally have a
(a) Local market
(b) Regional market
(c) National market
(d) Secular market
Q8. Which of the following governmental steps has proved relatively effective in controlling the double digit rate of inflation in the Indian economy during recent years?
(a) Containing budgetary deficits and unproductive expenditure
(b) Streamlined public distribution system
(c) Enhanced rate of production of all consumer goods
(d) Pursuing an export-oriented strategy
Q9. Secular period is also known as-
(a) Very short period
(b) Short period
(c) Very long period
(d) Long period
Q10. Stock exchange market is an example of-
(a) Unregulated market
(b) Regulated market
(c) Spot market
(d) None of the above
Q11. The market for the ultimate consumers is known as-
(a) Whole sale market
(b) Regulated market
(c) Unregulated market
(d) Retail market
Q12. The concept of Economic Planning in India is derived from which country?
(a) USA
(b) UK
(c) Russia
(d) France
Q13. When economic development takes place-
(a) Specialisation increases
(b) Commercialisation decreases
(c) Market imperfections increase
(d) None of the above
Q14. The condition for pure competition is -
(a) Large number of buyer and seller, free entry and exist
(b) Homogeneous product
(c) Both (a) and (b)
(d) Large number of buyer and seller, homogeneous product, perfect knowledge about the product
Q15. Pure oligopoly is based on the __________ products
(a) Differentiated
(b) Homogeneous
(c) Unrelated
(d) None of the above
Solutions
1.A
2.B
3.B
4.C
5.C
6.B
7.C
8.A
9.C
10.B
11.D
12.C
13.A
14.C
15.B
