Non-Competitive Markets CBSE Questions & Answers

Non-Competitive Markets

This is Economics Class 12 Non-Competitive Markets CBSE Questions & Answers. There are 15 questions in this test with each question having around four answer choices.

Questions & Answers

1
Post and telegraph industry in India is an example of?
  • A
    Oligopoly
  • B
    Monopoly
    Correct
  • C
    Perfect competition
  • D
    Monopsony
2
The shape of marginal revenue curve under monopoly is
  • A
    Vertical
  • B
    Negatively sloped
    Correct
  • C
    Positively sloped
  • D
    Horizontal
3
Abnormal profits mean
  • A
    Profit in excess of normal profit
    Correct
  • B
    Same as normal profit
  • C
    Profit under the normal profit
  • D
    Unexpected profits
4
Prices remain sticky in which of the following market?
  • A
    Oligopoly
    Correct
  • B
    Perfect Competition
  • C
    Monopoly
  • D
    Duopoly
5
A monopolist is able to maximize his profits when?
  • A
    His average cost is minimum
  • B
    His output is maximum
  • C
    He charges a high price
  • D
    His marginal cost is equal to marginal revenue
    Correct
6
Which of these is the best example of oligopoly?
  • A
    OPEC
    Correct
  • B
    GATT
  • C
    WTO
  • D
    SAARC
7
The Indian soft drinks market is dominated by two companies, Coke and Pepsi.What type of market structure prevails in the industry?
  • A
    Monopolistic competition
  • B
    Perfect competition
  • C
    Monopoly
  • D
    Duopoly
    Correct
8
Excess capacity is a prominent feature of equilibrium under?
  • A
    Monopolistic competition
    Correct
  • B
    Monopoly
  • C
    gopoly
  • D
    Perfect competition
9
Being the only producer, a firm can
  • A
    Make decisions
  • B
    Make a choice
  • C
    Decide the price
    Correct
  • D
    Make any good
10
product differentiation becomes important due to
  • A
    Presence of many goods
  • B
    Presence of many sellers
    Correct
  • C
    Presence of wide range of goods
  • D
    Presence of many buyers
11
Product differentiation is done by
  • A
    Bribing
  • B
    Competition
  • C
    Different packaging
    Correct
  • D
    Contamination
12
Patent rights lead to the formation of
  • A
    Perfect Competition
  • B
    Monopoly
    Correct
  • C
    Duopoly
  • D
    Oligopoly
13
Price discrimination is
  • A
    Selling a product
  • B
    Selling a brand
  • C
    Selling all products with a same brand name
  • D
    Selling a product by a different brand name
    Correct
14
Short period is the market period when the supply cannot be changed with the change in factor inputs.
  • A
    Can’t say
  • B
    1
    Correct
  • C
    False
  • D
    None of these
15
Long period is the market period when the supply can be changed with the change in any one factor input.
  • A
    0
    Correct
  • B
    Can’t say
  • C
    None of these
  • D
    True