CA CPT - Basics of General Economics - Market Forms and Price Output Determination Theory

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Question - 1

In Economics, a place where Buyers and Sellers meet and bargain over a commodity for a price is called

  • A Den
  • B Shop
  • C Market
  • D Exchange

Question - 2

Which of the following statements best describe a "Market"?

  • A Place where Shares and Securities are bought and sold.
  • B Place where Fruits and Vegetables are bought and sold.
  • C Place where Buyers and Sellers meet and bargain over a commodity for a price.
  • D Place where transactions takes place.

Question - 3

Which of these is not a feature of Market?

  • A Buyers and Sellers.
  • B Commodity, Product or Service.
  • C Bargaining for a Price.
  • D Government Regulation and Control

Question - 4

Which of these is a feature of Market?

  • A Perishable Nature of the commodity
  • B Government Regulation and Control
  • C One Price for a Product or Service at a given time
  • D Scarcity of Resources

Question - 5

Which of the following is an element of Market Structure?

  • A Buyers & Sellers
  • B A product or service
  • C Bargaining for a Price
  • D All of the above

Question - 6

The Market for ultimate consumers is known as __________.

  • A Whole Sale Market
  • B Retail Market
  • C Unregulated Market
  • D Regulated Market

Question - 7

Which of these is not a Market Structure in Economics?

  • A Perfect Competition
  • B Monopoly
  • C Monopolistic Competition
  • D Intense Competition

Question - 8

Which of these is a Market Structure in Economics?

  • A Stock Exchange
  • B Reserve Bank of India
  • C Oligopoly
  • D Government of India

Question - 9

Which of the following types of competition is just a theoretical economic concept, not a realistic case where actual competition and trade take place?

  • A Monopoly
  • B Oligopoly
  • C Perfect Competition
  • D Monopolistic Competition

Question - 10

Free Entry / Exit is a characteristic feature of

  • A Perfect Competition
  • B Monopoly
  • C Monopolistic Competition
  • D (a) and (c)
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