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
Which of the following is not the feature of an imperfect competition?
  • A
    Single seller
  • B
    Price maker
  • C
    Large number of buyers
  • D
    Homogeneous products
    Correct
2
A monopolist is a price
  • A
    Acceptor
  • B
    Maker
    Correct
  • C
    Taker
  • D
    Giver
3
The firm and the industry are one and the same in:
  • A
    Monopoly
    Correct
  • B
    Duopoly
  • C
    Monopolistic competition
  • D
    Oligopoly
4
Which of the following is not a characteristic feature of imperfect competition?
  • A
    All the products are homogeneous
    Correct
  • B
    Prices vary from seller to seller
  • C
    Profits of the seller is included in the price
  • D
    None of above
5
Market which has two firms is known as
  • A
    Monopolistic Competition
  • B
    Duopoly
    Correct
  • C
    Oligopoly
  • D
    Oligopoly
6
Under which of the following forms of market structure a firm has no control over the price of its product?
  • A
    Monopoly
  • B
    Monopolistic competition
  • C
    Perfect competition
    Correct
  • D
    Oligopoly
7
Oligopoly having identical products is known as
  • A
    Collusive oligopoly
  • B
    Pure oligopoly
    Correct
  • C
    Independent oligopoly
  • D
    None of above
8
Price discrimination can take place only in
  • A
    Monopoly
    Correct
  • B
    Monopolistic competition
  • C
    Perfect competition
  • D
    Oligopoly
9
Which market have characteristic of product differentiation
  • A
    Monopoly
  • B
    Monopolistic competition
    Correct
  • C
    Perfect competition
  • D
    Oligopoly
10
Under monopoly form of market, TR is maximum when
  • A
    MR is maximum
  • B
    MR\( > \)0
  • C
    MR is zero
    Correct
  • D
    MR\( < \)0
11
Selling cost is the feature of
  • A
    Perfect competition
  • B
    Monopolistic competition
    Correct
  • C
    Bilateral monopoly
  • D
    Monopoly
12
The demand curve of oligopoly is?
  • A
    Vertical
  • B
    Rising left to right
  • C
    Horizontal
  • D
    Kinked
    Correct
13
In perfect competition the goods are
  • A
    Homogeneous
    Correct
  • B
    Heterogeneous
  • C
    Durable
  • D
    Differentiated
14
In monopoly, the goods are
  • A
    Durable
  • B
    Heterogeneous
  • C
    Homogeneous
    Correct
  • D
    Differentiated
15
In monopolistic competition the goods are
  • A
    Heterogeneous
  • B
    Homogeneous
  • C
    Differentiated
    Correct
  • D
    Durable