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11th Standard Economics Market Structure and Pricing English Medium Free Online Test One Mark Questions 2020 - 2021

11th Standard

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Economics

Time : 00:10:00 Hrs
Total Marks : 10

    Answer all the questions

    10 x 1 = 10
  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. Group equilibrium is analysed in ____________

    (a)

    Monopolistic competition

    (b)

    Monopoly

    (c)

    Duopoly

    (d)

    Pure competition

  3. Under perfect competition, the shape of demand curve of a firm is ___________

    (a)

    Vertical

    (b)

    Horizontal

    (c)

    Negatively sloped

    (d)

    Positively sloped

  4. Which of the following involves maximum exploitation of consumers?

    (a)

    Perfect competition

    (b)

    Monopoly

    (c)

    Monopolistic competition

    (d)

    Oligopoly

  5. Very short period is also called ________ period

    (a)

    Long Period

    (b)

    Short Period

    (c)

    Market Period

    (d)

    None of these

  6. The supply curve is __________ in the long period.

    (a)

    Perfectly inelastic

    (b)

    Inelastic

    (c)

    Elastic

    (d)

    Very much elastic

  7. Total revenue is Rs 500. Total cost Rs 600. Therefore find profit or loss?

    (a)

    100 Profit

    (b)

    100 Loss

    (c)

    1100 Profit

    (d)

    600 Loss

  8. There are _______ types of price discrimination

    (a)

    One

    (b)

    Two

    (c)

    Three

    (d)

    Four

  9. ____________ market in which a single producer faces a single consumer.

    (a)

    Bilateral Oligopoly

    (b)

    Bilatral Monopoly

    (c)

    Monopoly

    (d)

    Oligopoly

  10. On the basis of area, the market can be classified as ................ market.

    (a)

    local

    (b)

    regional

    (c)

    national

    (d)

    all of these

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TN 11th Standard Economics free Online practice tests

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