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11th Standard Economics Market Structure and Pricing English Medium Free Online Test One Mark Questions with Answer Key 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. Equilibrium condition of a firm is ___________

    (a)

    MC=MR

    (b)

    MC>MR

    (c)

    MC < MR

    (d)

    MR = Price

  2. Profit of a firm is obtained when __________

    (a)

    TR<TC

    (b)

    TR-MC

    (c)

    TR>TC

    (d)

    TR=TC

  3. In which type of market, AR and MR are equal _______

    (a)

    Duopoly

    (b)

    Perfect competition

    (c)

    Monopolistic competition

    (d)

    Oligopoly

  4. Price leadership is the attribute of ________

    (a)

    Perfect competition

    (b)

    Monopoly

    (c)

    Oligopoly

    (d)

    Monopolistic competition

  5. In which market form does, an absence of competition prevail?

    (a)

    Perfect competition

    (b)

    Monopoly

    (c)

    Duopoly

    (d)

    Oligopoly

  6. _____________ classifies market on the basis of time

    (a)

    Adam Smith

    (b)

    Alfred Marshall

    (c)

    Samuelson

    (d)

    E.H. Chamberlin

  7. The imperfect competition was propounded in England by _________

    (a)

    Mrs. Joan Robinson

    (b)

    E.H. Chamberlin

    (c)

    Marshall

    (d)

    Adam Smith

  8. Which of these is a feature of a market?

    (a)

    Buyers and sellers

    (b)

    Existence of a product or service

    (c)

    Willingness and ability to pay and sell

    (d)

    All of these

  9. Total revenue is defined as ...........................

    (a)

    Revenue per unit of a commodity

    (b)

    Addition to revenue when one more unit of the commodity is sold

    (c)

    Proceeds from the sale of the commodity

    (d)

    All of these

  10. Which is the first order condition for the profit of a firm to be maximum?

    (a)

    AC = MR

    (b)

    MC = MR

    (c)

    MR = AR

    (d)

    AC = AR

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TN 11th Standard Economics free Online practice tests

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