Description : Number of sellers in the monopoly market structure is - (1) few (2) large (3) one (4) two
Last Answer : (3) one Explanation: Monopoly refers to a market in which there is only one supplier and no other firms are able to enter.
Description : What type of competitive structure exists when a few sellers control a large portion of the supply of a product ? 1. Monopoly 2. Oligopoly 3. Mixed competition 4. Perfect competition 5. None of these
Last Answer : Oligopoly
Description : What type of competitive structure exists when a few sellers control a large portion of the supply of a product? A)Monopoly B)Oligopoly C)Monopolistic Competition D)Mixed Competition E)Perfect Competition
Last Answer : B)Oligopoly
Description : A market situation in which there are only a few sellers & each seller can influence its price output policy is called 1. Oligopoly 2. Monopoly 3. Monopolistic 4. Duopoly 5. None of these
Description : Bilateral monopoly refers to the market situation of - (1) two sellers, two buyers (2) one seller and two buyers (3) two sellers and one buyer (4) one seller and one buyer
Last Answer : (4) one seller and one buyer Explanation: In a bilateral monopoly there is both a monopoly (a single seller) and monopsony (a single buyer) in the same market. The one supplier tends to act ... buyer looks towards paying a price that is as low as possible. Since both parties have conflicting goals,
Description : Bilateral monopoly refers to the market situation of (1) two sellers, two buyers (2) one seller and two buyers (3) two sellers and one buyer (4) one seller and one buyer
Last Answer : one seller and one buyer
Description : A market in which there are only 2 sellers of a good is known as: a) monopoly b) monopsony c) duopoly d) perfectly competitive View Answer / Hide Answer
Last Answer : c) duopoly
Description : Under which market conditions “products of the sellers are differentiated yet they are close substitutes of each other” ? (a) Monopolistic Competition (b) Monopoly (c) Perfect Competition (d) None of the above
Last Answer : (b) Monopoly
Description : A market in which there are a few number of large firms is called as (1) Duopoly (2) Competition (3) Oligopoly (4) Monopoly
Last Answer : (3) Oligopoly Explanation: Duopoly means a market in which two producers of the same good are predominantly powerful. In some theries, the term is used specifically to denote the existence of only two suppliers of a good.
Description : In monopoly there are / is 1. Few sellers 2. one seller 3. Many sellers 4. few buyers 5. None of these
Last Answer : one seller
Description : Bilateral monopoly situation is (1) when there are only two sellers of a product (2) when there are only two buyers of a product (3) when there is only one buyer and one seller of a product (4) when there are two buyers and two sellers of a product
Last Answer : (3) when there is only one buyer and one seller of a product Explanation: Bilateral monopoly is a market consisting of a single seller (monopolist) and a single buyer (monopsonist).For example, ... . The equilibrium in such a market cannot be determined by the traditional tools of demand and supply.
Last Answer : when there is only one buyer and one seller of a product
Description : When there is one buyer and many sellers then that situation is called - (1) Monopoly (2) Single buyer right (3) Down right (4) Double buyers right
Last Answer : (2) Single buyer right Explanation: In economics, a monopsony (mono: single) is a market form in which only one buyer faces many sellers. It is an example of imperfect competition, ... of a monopsony. Another possible monopsony could develop in the exchange between the food industry and farmers.
Description : Monopoly means - (1) single buyer (2) many sellers (3) single seller (4) many buyers
Last Answer : (3) single seller Explanation: A Monopoly exists when a specific person or enterprise is the only supplier of a particular commodity, This contrasts with a monopsony which relates to a single entity ... lack of economic competition to produce the good or service and a lack of viable substitute goods
Description : Monopoly means (1) single buyer (2) many sellers (3) single seller (4) many buyers
Last Answer : single seller
Description : When there is one buyer and many sellers then that situation is called (1) Monopoly (2) Single buyer right (3) Down right (4) Double buyers right
Last Answer : Single buyer right
Description : If the total production in an economy is produced by “a few big firms” than this market is known as (a) Monopolistic Competition (b) Duopoly (c) Oligopoly (d) Discriminating Monopoly
Last Answer : (b) Duopoly
Description : If the total production in an economy for a product is produced by a few big firms, then this market is known as : (a) Monopolistic Competition (b) Oligopoly (c) Duopoly (d) Discriminating Monopoly
Description : Inwhich market structure is the demand curve of the market represented by the demand curve of the firm? (1) Monopoly (2) Oligopoly (3) Duopoly (4) Perfect Competition
Last Answer : (1) Monopoly Explanation: Because the monopolist is the market's only supplier, the demand curve the monopolist faces is the market demand curve. The market demand curve is downward sloping, ... expect to receive for its output will not remain constant as the monopolist increases its output.
Description : Price and output are determinates in market structure other than - (1) monopoly (2) perfect competition (3) oligopoly (4) monopsony
Last Answer : (2) perfect competition Explanation: Perfect competition is a form of market in which there are a large number of buyers and sellers competing with each other in the purchase and sale of goods ... 's output is perfectly elastic. Product differentiation holds the key in this type of market structure.
Description : Price and output are determinates in market structure other than (1) monopoly (2) perfect competition (3) oligopoly (4) monopsony
Last Answer : perfect competition
Description : In which market structure is the demand curve of the market represented by the demand curve of the firm ? (1) Monopoly (2) Oligopoly (3) Duopoly (4) Perfect Competition
Last Answer : Monopoly
Description : In the beer industry, a few large brewers supply the majority of the market. The brewing industry is an example of which of the following competitive structures: A)Monopoly B)Oligopoly C)Monopolistic Competition D)Perfect Competition E)Monopsony
Description : One of the essential conditions of perfect competition is : (1) product differentiation (2) multiplicity of prices for identical products at any one time. (3) many sellers and a few buyers. (4) Only one price for identical goods at any one time.
Last Answer : (4) Only one price for identical goods at any one time. Explanation: The fundamental condition of perfect competition is that there must be a large number of sellers or firms. ... perfect competition, the control over price is completely eliminated because all firms produce homogeneous commodities.
Last Answer : Only one price for identical goods at any one time.
Description : Oligopoly is a market organization in which there are 1. No seller 2. Few Buyers 3. Few Sellers 4. Many buyers 5. Many sellers
Last Answer : Few Sellers
Description : Perfect competition means - (1) large number of buyers and less sellers (2) large number of buyers and sellers (3) large number of sellers and less buyers (4) None of these
Last Answer : (2) large number of buyers and sellers Explanation: The fundamental condition of perfect competition is that there must be a large number of sellers or firms. Homogeneous Commodity is the second fundamental condition of a perfect market.
Description : Perfect competition means (1) large number of buyers and less sellers (2) large number of buyers and sellers (3) large number of sellers and less buyers (4) None of these
Last Answer : large number of buyers and sellers
Description : In a Capitalistic Economy, the prices are determined by : (1) Demand and Supply (2) Government Authorities (3) Buyers in the Market (4) Sellers in the Market
Last Answer : (1) Demand and Supply Explanation: Capitalism generally refers to economic system in which the means of production are largely or entirely privately owned and operated for a profit, structured on the ... and services lead to higher prices and lower demand for certain goods lead to lower prices.
Description : Sellers market denotes a situation where : (1) commodities are available at competitive rates (2) demand exceeds supply (3) supply exceeds demand (4) supply and demand are evenly balanced
Last Answer : (2) demand exceeds supply Explanation: Seller's market is a market which has more buyers than sellers. High prices result from this excess of demand over supply. The opposite of the seller's market is the buyer's market, where supply greatly exceeds demand.
Description : Buyers and Sellers will have perfect knowledge of market conditions under - (1) Duopoly (2) Perfect competition (3) Monopolistic competition (4) Oligopoly
Last Answer : (1) Duopoly Explanation: Complete market information is one of the main features of Perfect Competition. This condition implies close contact between buyers and sellers. Both of them possess complete knowledge ... being bought and sold, and the prices at which others are prepared to buy or sell.
Description : In a market system, sellers act in ____________ interest , but this leads to behaviors in ____________ interest. a. self; self b. self; society’s c. society’s; society’s d. society’s; self
Last Answer : b. self; society’s
Description : In a pure market economy, which of the following is a function of the price? I. provide information to sellers and buyers , II. provide incentives to sellers and buyers a. I only b. II only c. both I and II d. neither I nor II
Last Answer : c. both I and II
Description : Buyers and Sellers will have perfect knowledge of market conditions under (1) Duopoly (2) Perfect competition (3) Monopolistic competition (4) Oligopoly
Last Answer : Duopoly
Last Answer : Demand and Supply
Last Answer : demand exceeds supply
Description : Same price prevails throughout the market under - (1) perfect competition (2) monopoly (3) monopolistic competition (4) oligopoly
Last Answer : (1) perfect competition Explanation: Under perfect competition, the control over price is completely eliminated because all firms produce homogeneous commodities. This condition ensures that the same price prevails in the market for the same commodity.
Description : In which of the following market forms, a firm does not exercise control over price? (1) Monopoly (2) Perfect competition (3) Oligopoly (4) Monopolistic competition
Last Answer : (2) Perfect competition Explanation: In perfect competition, the existence of a large number of firms producing and selling the product ensures that an individual firm exercises no influence over the price ... a position to influence the price of the product by the increasing or reducing its output.
Description : . In order to practice price discrimination, which of the following is needed? a. some degree of monopoly power b. an ability to separate the market c. an ability to prevent reselling d. all of the above
Last Answer : d. all of the above
Description : Which of the following is necessary for a natural monopoly? a. economies of scale b. a high proportion of the total cost is the cost of capital goods c. the market is very small d. all of the above
Description : A market in which there is only one seller of a good is known as: a) monopoly b) monopsony c) duopoly d) perfectly competitive
Last Answer : a) monopoly
Description : Market with one buyer and one seller is called A.Monopsony B.Monopoly C.Bilateral Monopoly D.None of the above
Last Answer : C.Bilateral Monopoly
Description : In a monopoly market, an upward shift in the market demand results in a new equilibrium with A.A higher quantity and a lower price B.A higher quantity and the same price C.A higher quantity and higher price D.All of the above
Last Answer : C.A higher quantity and higher price
Last Answer : Perfect competition
Description : Same price prevails throughout the market under (1) perfect competition (2) monopoly (3) monopolistic competition (4) oligopoly
Description : “Natural Monopoly” is the monopoly (a) which is provided by nature. (b) which needs large amount of capital. (c) when there is only one producer. (d) when average costs declines with increase in output.
Last Answer : (b) which needs large amount of capital.
Description : The main advantage of specialization results from (a) The economies of large scale production (b) The specializing country behaves like a monopoly © Smaller production runs resulting in lower unit costs. (d) High wages paid to foreign workers.
Last Answer : (a) The economies of large scale production
Description : A bilateral monopoly is a market structure consisting of both a monopoly (a single seller) and a ____(a single buyer). 1. Monopsony 2. Biopoly 3. Triple poly 4. multipoly 5. multisony
Last Answer : Monopsony
Description : The type of competitive structure that exists when a firm with many potential competitors attempts to develop a differential marketing strategy to establish its own market share is: A)Monopoly B)Oligopoly C)Monopolistic Competition D)Perfect Competition
Last Answer : C)Monopolistic Competition