Market and Price Determination (CBSE Class-12 Economics): Questions 1 - 12 of 40

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Question number: 1

» Market and Price Determination » Monopolistic Competition

Short Answer Question▾

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Explain the implication of the feature ‘product differentiation’ under Monopolistic Competition.

Question number: 2

» Market and Price Determination » Perfect Competition

One Liner Question▾

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What is meant by the term ‘price taker’ in the context of a firm?

Question number: 3

» Market and Price Determination » Market Types

One Liner Question▾

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What happens to equilibrium price of a commodity if there is ‘decrease’ in its demand and ‘increase’ in its supply?

Question number: 4

» Market and Price Determination » Market Types

Short Answer Question▾

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Explain the implication of the feature ‘Freedom of entry and exit of firms’.

Question number: 5

» Market and Price Determination » Market Types

One Liner Question▾

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What induces new firms to enter an industry?

Question number: 6

» Market and Price Determination » Monopolistic Competition

Short Answer Question▾

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Explain the implication of ‘product differentiation’ feature of monopolistic competition.

Question number: 7

» Market and Price Determination » Oligopoly

One Liner Question▾

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Give the meaning of ‘oligopoly’.

Question number: 8

» Market and Price Determination » Perfect Competition

Short Answer Question▾

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Explain the implication of ‘homogenous product’ feature of perfect competition.

Question number: 9

» Market and Price Determination » Monopoly

» Market and Price Determination » Monopolistic Competition

Short Answer Question▾

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State any two features each of monopoly and monopolistic competition.

Question number: 10

» Market and Price Determination » Perfect Competition

Short Answer Question▾

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Explain the implications of the following features of perfect competition:

(a) large number of buyers and sellers

(b) freedom of entry and exit of firms

Question number: 11

» Market and Price Determination » Perfect Competition

Short Answer Question▾

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State four features of a perfectly competitive market.

Question number: 12

» Market and Price Determination » Monopolistic Competition

Essay Question▾

Describe in Detail

State three features of monopolistic competition.

Explanation

Features are given below: -

(1) Large Number of Sellers: - Large number of companies selling related goods but these are not homogeneous products. Each company is independent and it has limited share of market. Large number of company conduct to competition in market

(2) Selling Cost: - In monopolistic… (74 more words) …

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