Market Structure and Pricing Book Back Questions

11th Standard

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Economics

Time : 00:45:00 Hrs
Total Marks : 30
    5 x 1 = 5
  1. In which of the following is not a type of market structure price will be very high?

    (a)

    Perfect competition

    (b)

    Monopoly

    (c)

    Duopoly

    (d)

    Oligopoly

  2. Which of the following is a feature of monopolistic competition?

    (a)

    One seller

    (b)

    Few sellers

    (c)

    Product differentiation

    (d)

    No entry

  3. Another name of price is _________

    (a)

    Average Revenue

    (b)

    Marginal Revenue

    (c)

    Total Revenue

    (d)

    Average cost

  4. Perfect competition assumes ____________

    (a)

    Luxury goods

    (b)

    Producer goods

    (c)

    Differentiated goods

    (d)

    Homogeneous goods

  5. In monopolistic competition, the essential feature is ____________

    (a)

    Same product

    (b)

    Selling cost

    (c)

    Single seller

    (d)

    Single buyer

  6. 3 x 2 = 6
  7. Define Market.

  8. What is selling cost?

  9. Define Excess capacity.

  10. 3 x 3 = 9
  11. Specify the nature of entry of competitors in perfect competition and monopoly.

  12. Mention the similarities between perfect competition and monopolistic competition.

  13. State the features of the duopoly.

  14. 2 x 5 = 10
  15. Brint out the features of perfect competition.

  16. Explain price and output determination under monopolistic competition with help of the diagram.

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