In a socialist country all the means of production are owned and operated by_____________.
Private sector
Public sector
Both
None of these
Price maker firms exist under ________________ competition.
Monopolistic competition
Perfect competition
Monopoly
Oligopoly
Which one is not the characteristics features of perfect competition?
large number of firms
Homogenous products
Individual firm influences price
Individual cannot influence price
_____________ refers to the types of market in which the firms operate.
Market structure
Competitive market
Oligopoly market
Closed entry is the features of _______________ markets.
both a and b
A large inercase in the production of food grains offer independent is called______________.
Green revolution
Operation flood
Brown revolution
In perfect competition, prices are determined by ______________________
Single firm
Two firm
Three firms
Industry
Larger is the number of sellers ________________ would be the power of the firm to influence the price.
Smaller
Larger
Constant
Market needs to exist in some geographical place. This statement is.
Absolutely true
Absolutely false
Only partially correct
Available information is incomplete
In a monopolistic market, goods are __________________
Homogenous
Heterogeneous
Differentiated
