CBSE Class 11 Market Equilibrium Multiple Choice Questions with Answers. MCQ Questions Class 11 Market Equilibrium with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 11 Market Equilibrium with Answers to know their preparation level.
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MCQ Questions Class 11 Market Equilibrium with Answers - Set - 2
Question 1:Â
What is true for perfect competition market ?
(a) Price is determined by both Demand and Supply Forces
(b) Price is determined by the industry
(c) Each firm of the industry is Price-taker
(d) All the above
Correct Answer – (D)
Question 2:Â
“Price is determined by Demand and Supply. Whose statement is this ?
(a) Jevons
(b) Walras
(c) Marshall
(d) None of these
Correct Answer – (C)
Question 3:Â
In which market is AR equal to MR ?
(a) Perfect competition
(b) Oligopoly
(c) Imperfect competition
(d) Monopoly
Correct Answer – (A)
Question 4:Â
The concept of monopolistic competition is given by:
(a) Hicks
(b) Chamberlin
(c) Mrs. Robinson
(d) Samuelson
Correct Answer – (B)
Question 5:Â
Which of the following is the feature of pure competition ?
(a) Perfect knowledge of the market
(b) Perfect mobility of factors
(c) Homogenity by products
(d) All the above
Correct Answer – (D)
MCQ Questions Class 11 Market Equilibrium With Answers
Question 6:Â
Price of a commodity is determined at a point where :
(a) Demand exceeds
(b) Supply exceeds
(c) Demand equals supply
(d) None of these
Correct Answer – (C)
Question 7:Â
Which factor determines Equilibrium Price ?
(a) Demand for Commodity
(b) Supply of Commodity
(c) Both (a) and (b)
(d) None of the above
Correct Answer – (C)
Question 8:Â
Which of the following is not a feature of perfect competition ?
(a) Large number of buyers and sellers
(b) Homogeneity of product
(c) Advertisement and selling cost
(d) Perfect knowledge of the market
Correct Answer – (C)
Question 9:Â
Market situation where there is only one buyer is:
(a) Monopoly
(b) Monopsony
(c) Duropoly
(d) None of these
Correct Answer – (B)
Question 10:Â
Price discrimination is found in which market ?
(a) Pure Competition
(b) Perfect Competition
(c) Monopoly
(d) Monopolistic Competition
