SSC CGL Exam  >  SSC CGL Tests  >  SSC CGL Tier 2 - Study Material, Online Tests, Previous Year  >  Test: Market and its Types - SSC CGL MCQ

Test: Market and its Types - SSC CGL MCQ


Test Description

10 Questions MCQ Test SSC CGL Tier 2 - Study Material, Online Tests, Previous Year - Test: Market and its Types

Test: Market and its Types for SSC CGL 2024 is part of SSC CGL Tier 2 - Study Material, Online Tests, Previous Year preparation. The Test: Market and its Types questions and answers have been prepared according to the SSC CGL exam syllabus.The Test: Market and its Types MCQs are made for SSC CGL 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Market and its Types below.
Solutions of Test: Market and its Types questions in English are available as part of our SSC CGL Tier 2 - Study Material, Online Tests, Previous Year for SSC CGL & Test: Market and its Types solutions in Hindi for SSC CGL Tier 2 - Study Material, Online Tests, Previous Year course. Download more important topics, notes, lectures and mock test series for SSC CGL Exam by signing up for free. Attempt Test: Market and its Types | 10 questions in 10 minutes | Mock test for SSC CGL preparation | Free important questions MCQ to study SSC CGL Tier 2 - Study Material, Online Tests, Previous Year for SSC CGL Exam | Download free PDF with solutions
Test: Market and its Types - Question 1

What is the conventional perception of a market?

Detailed Solution for Test: Market and its Types - Question 1
The conventional perception of a market in economics is a meeting point for buyers and sellers, facilitating the exchange of goods and services.
Test: Market and its Types - Question 2

How do economists define a market?

Detailed Solution for Test: Market and its Types - Question 2
Economists define a market as the convergence of buyers and sellers, emphasizing an arrangement wherein individuals engage in transactions involving the sale and purchase of goods and services.
1 Crore+ students have signed up on EduRev. Have you? Download the App
Test: Market and its Types - Question 3

What is a feature of a market based on geographic location?

Detailed Solution for Test: Market and its Types - Question 3
A feature of a market based on geographic location is a National Market.
Test: Market and its Types - Question 4
What does a Short Period Market imply?
Detailed Solution for Test: Market and its Types - Question 4
In a Short Period Market, the supply can be slightly adjusted.
Test: Market and its Types - Question 5
What is a characteristic of an Unregulated Market?
Detailed Solution for Test: Market and its Types - Question 5
An Unregulated Market is characterized by the fact that the market forces decide everything without oversight or regulation.
Test: Market and its Types - Question 6
What is the main assumption for Perfect Competition?
Detailed Solution for Test: Market and its Types - Question 6
The main assumption for Perfect Competition is that products on the market are homogeneous (completely identical).
Test: Market and its Types - Question 7
In which market structure do sellers offer slightly differentiated goods?
Detailed Solution for Test: Market and its Types - Question 7
Sellers offer slightly differentiated goods in Monopolistic Competition.
Test: Market and its Types - Question 8
How many dominant firms are considered the norm in an Oligopoly?
Detailed Solution for Test: Market and its Types - Question 8
In an Oligopoly, 3-5 dominant firms are considered the norm.
Test: Market and its Types - Question 9
What does a Monopoly market structure imply?
Detailed Solution for Test: Market and its Types - Question 9
In a Monopoly market structure, there is only one seller controlling the entire market.
Test: Market and its Types - Question 10
Why are monopolies considered extremely undesirable?
Detailed Solution for Test: Market and its Types - Question 10
Monopolies are considered extremely undesirable because consumers lose all their power, and market forces become irrelevant.
1365 videos|1312 docs|1010 tests
Information about Test: Market and its Types Page
In this test you can find the Exam questions for Test: Market and its Types solved & explained in the simplest way possible. Besides giving Questions and answers for Test: Market and its Types, EduRev gives you an ample number of Online tests for practice

Top Courses for SSC CGL

Download as PDF

Top Courses for SSC CGL