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B Com Exam  >  B Com Test  >  Indian Economy  >  Test: Measures to Control Monopoly in India - 2 - B Com MCQ

Measures to Control Monopoly in India - 2 - Free MCQ Practice Test


MCQ Practice Test & Solutions: Test: Measures to Control Monopoly in India - 2 (10 Questions)

You can prepare effectively for B Com Indian Economy with this dedicated MCQ Practice Test (available with solutions) on the important topic of "Test: Measures to Control Monopoly in India - 2". These 10 questions have been designed by the experts with the latest curriculum of B Com 2026, to help you master the concept.

Test Highlights:

  • - Format: Multiple Choice Questions (MCQ)
  • - Duration: 10 minutes
  • - Number of Questions: 10

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Test: Measures to Control Monopoly in India - 2 - Question 1
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What was the main task of the Monopolies Inquiry Commission appointed in the 1960s?

Detailed Solution: Question 1

The Monopolies Inquiry Commission was appointed in the 1960s to study the existence and effects of concentration of economic power in the organized private sector. It aimed to investigate cases of product-wise concentration and inter-industry concentration.

Test: Measures to Control Monopoly in India - 2 - Question 2
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Which of the following is NOT mentioned as a factor contributing to the growth of economic power through monopolistic practices?

Detailed Solution: Question 2

The growth of economic power through monopolistic practices is attributed to factors like controls and licenses, foreign collaboration, and intercorporate investment of funds. The expansion of the public sector is not mentioned as a contributing factor in the text.

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Test: Measures to Control Monopoly in India - 2 - Question 3
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Which of the following is an evil associated with the growth of monopoly power in India?

Detailed Solution: Question 3

The text mentions that monopoly power has the power to corrupt. This implies that the concentration of economic power through monopolistic practices can lead to unethical behavior and misuse of power.

Test: Measures to Control Monopoly in India - 2 - Question 4
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According to the Monopolies Inquiry Commission, what did concentration of economic power foster?

Detailed Solution: Question 4

The Monopolies Inquiry Commission held that concentration of economic power fostered economic growth, increased capital formation, and contributed to the development of managerial skills. Monopolies were seen as both engines and consequences of growth.

Test: Measures to Control Monopoly in India - 2 - Question 5
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Which act came into force from June 1970 to control the growth of monopoly power in India?

Detailed Solution: Question 5

The Monopolies Restrictive Trade Practices (MRTP) Act came into force from June 1970 to regulate and control the growth of monopoly power in India. This act focused on concentration of economic power, monopolistic trade practices, and restrictive trade practices.

Test: Measures to Control Monopoly in India - 2 - Question 6
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Which provision requires large business houses to seek government permission for expansion, merger, or starting new undertakings?

Detailed Solution: Question 6

The provision related to concentration of economic power requires large business houses to seek government permission for expansion, merger, amalgamation, or starting new undertakings.

Test: Measures to Control Monopoly in India - 2 - Question 7
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What is the purpose of the MRTP Amendment Bill 1983?

Detailed Solution: Question 7

The MRTP Amendment Bill 1983 aims to protect consumers not only from restrictive trade practices but also from unfair or unethical practices, such as misleading advertisements. This amendment emphasizes consumer protection.

Test: Measures to Control Monopoly in India - 2 - Question 8
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What type of practices require registration with the Registrar of Restrictive Trade Agreements?

Detailed Solution: Question 8

Practices related to restrictive trade practices, such as collusive tendering, collective price fixing, withholding or restricting output, and other similar practices, need to be registered with the Registrar of Restrictive Trade Agreements.

Test: Measures to Control Monopoly in India - 2 - Question 9
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Which measure involves the development of small-scale industries to curb the growth of monopoly power?

Detailed Solution: Question 9

Vigorous promotion of village and small industries is a measure mentioned in the text to curb the growth of monopoly power. This implies that supporting small-scale industries can contribute to a more balanced economic environment.

Test: Measures to Control Monopoly in India - 2 - Question 10
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Why does the text suggest that nationalizing the top 20 monopoly houses might not be a suitable solution?

Detailed Solution: Question 10

The text suggests that nationalizing the top 20 monopoly houses might not be a suitable solution because the Indian economic approach follows the concept of a mixed economy, where both public and private sectors coexist and contribute to planned objectives. Nationalization of major private entities could contradict this approach.

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About this B Com Practice Test

This test contains 10 MCQs on Measures to Control Monopoly in India - 2 with detailed solutions for each question. It is part of the Indian Economy course on EduRev, designed to align with the current B Com syllabus. Each solution explains not just the correct answer but also gives you an understanding of the topic — not just to attempt the question but also help you prepare for the exam with practice.

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