TN STATEBOARD 11th ECONOMICS CHAPTER 5
TEST
CHAPTER TEST
TEST –6
PADVIKSHA BLOG
TIME: 1 HOUR 15 Minutes
TOTAL MARKS: 25
I Multiple Choice Questions (MCQ) (Mark- 5 x 1 = 5)
Write all questions
1. Government controls monopoly by _______
(a) Taxation
(b) Legal methods
(c) Both
(d) None
2. The concept of Imperfect Competition was
(a) J.M. Keynes(b) Irving Fisher
(c) Marshall propounded by
(d) Joan Robinson
(b) Short period market
(c) Very long period market
(d) Whole sale market
Choose the incorrect statement
Question 1
In perfect competition
(a) There are large number of buyers and sellers
(b) Free entry and exit of firm
(c) Price competition is essential
(d) Independent price policy
Question 2
(a) In a market there is no exchange of goods.
(b) Commodities will be bought and sold in market.
(c) In market prices are agreeable to buyer and seller.
(d) In market there are buyer and seller of a commodity.
II ANSWER THE FOLLOWING QUESTIONS IN ONE OR TWO SENTENCES. (3x2=6)
Write Any 3 Questions:
1. Define Market.
2. Who is price – taker?
3. Point out the essential features of pure competition.
4. Define duopoly?
5. How can you classify market based on competition ?
III Short answer questions. (3 X 3 = 9)
WRITE ANY 3 QUESTIONS
1. Explain the types of markets based on area.
2. Specify the nature of entry of competitors in perfect competition and monopoly.
3. Explain the features of monopoly.
4. Describe the degree of price discrimination?
5. State the meaning of selling cost with an example
IV. Long Answer question (1 x 5 = 5)
WRITE ANY ONE QUESTION
1. Explain long-run equilibrium in perfect competition.
2. How price and output are determined under the perfect competition?
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