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nae ARYABHAT INSTITUTE, , Marks: An Institute for Excelence, Signature: (Weekly Test), , , , , , 1, Which of the following ts not the feature of an imperfect competition?, (a) Large number of buyers (b) Single seller, (c) Homogeneous products (d) Price maker, 2. Amonopolist is a price, (a) Acceptor (b) Taker, (c) Giver (d) Maker, 3. The firm and the industry are one and the same in:, (a) Monopolistic competition —(b) Monopoly, (c) Duopoly (d) Oligopoly, 4. Which of the following is not a characteristic feature of imperfect competition?, (a) Prices vary from seller to seller (b) All the products are homogeneous, (c) Profits of the seller is included in the price, (d) None of above, , 5. Under which of the following forms of market structure a firm has no control over the price, of its product?, , (a) Monopoly (b) Perfect competition, , (c) Oligopoly (d) Monopolistic competition, 6. Price discrimination can take place only in, , (a) Perfect competition (b) Oligopoly, , (c) Monopolistic competition —_ (d) Monopoly, 7. Which market have characteristic of product differentiation, (a) Monopolistic competition —(b) Oligopoly, , (c) Monopoly (d) Perfect competition, 8. Which is a characteristic of the market ?, (a) One Area (b) Presence of both Buyers and Sellers, , (c) Single Price of the Commodity (d) All the above, 9. Which is a basic for the classification of the market ?, (a) Perfect Competition (b) Zero Competition (Monopoly), (c) Imperfect Competition (d) All the above, 10, Which of the following is a feature of perfect competition ?, (a) Large Number of Buyers and Sellers, (b) Homogeneous Units of the Product, (c) Perfect Knowledge of the Market, (d) All the above, 11, Which one is a feature of monopoly ?, (a) Single Seller and Many Buyers, (b) Lack of Close Substitutes — (c) Restrictions of New Firm entry, , (d) All of these, 12, Which one of the following is true for monopoly ?, (a) Firm is price-maker (b) Demand curve slopes downward, , (c) Price discrimination possibility arises, (d) All the above

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i ARYABHAT INSTITUTE, , Marks: An Institute for Excelence, Signature: (Weekly Test), , , , , , 13, A market in which there is free entry and exit, the market is:, (a) Monopolistic Competitive Market, (b) Imperfect Competitive Market, (c) Perfectly Competitive Market, , (d) None of these, 14. Market situation where there is only one buyer is:, (a) Monopoly (b) Monopsony, (c) Duropoly (d) None of these, 15. The price of a good is determined by:, (a) Demand (b) Supply, , (c) Both demand and supply — (d) Government, 16. A Seller Cannot influence the market price under:, (a) Perfect Competition (b) Monopoly, (c) Monopolistic Competition (d) All of these, 17. Main feature of perfectly competitive market is:, (a) Uniform price (b) Homogeneous product, (c) Large number of buyers and sellers, (d) All of the above, 18. Which factor determines Equilibrium Price ?, (a) Demand for Commodity —_(b) Supply of Commodity, , (c) Both (a) and (b) (d) None of the above, 19. Price of a commodity is determined at a point where :, (a) Demand exceeds (b) Supply exceeds, , (c) Demand equals supply (d) None of these, 20. In perfect competition, a firm:, , (a) Determines price (b) Obtains price, , (c) Both (a) and (b) (d) None of these