Economics MCQ Class 11 Chapter 8: Check the below NCERT MCQ Questions for Economics MCQ Class 11 Chapter 8 with Answers Pdf free download. Economics MCQ Class 11 Chapter 8 Questions for Economics with Answers were prepared based on the latest exam pattern. We have provided Economics MCQ Class 11 Chapter 8 with Answers to help students understand the concept very well.

We trust that the offered Economics MCQs for Class 11 with responses Chapter 8: Market Equilibrium will help you. Assuming you have any questions with respect to CBSE Class 11 Economics, Market Equilibrium MCQs, drop a remark underneath, and we will hit you up at the most punctual.

Economics MCQ Class 11 Chapter 8

1. Which of the following is true in perfect competition ?
(a) Firm is price-taker, not price-maker
(b) Firm’s demand curve is perfectly elastic
(c) AR = MR
(d) All the above

2. In which market product differentiation is found ?
(a) Pure Competition
(b) Perfect Competition
(c) Monopoly
(d) Monopolistic Competition

3. A market in which there is free entry and exit, the market is:
(a) Monopolistic Competitive Market
(b) Imperfect Competitive Market
(c) Perfectly Competitive Market
(d) None of these

4. Which one is a feature of monopoly ?
(a) Single Seller and Many Buyers
(b) Lack of Close Substitutes
(c) Restrictions of New Firm entry
(d) All of these

5. What does a monopolist market show ?
(a) Production process
(b) Distribution system
(c) Nature of market
(d) None of these

6. Which one of the following is true for monopoly ?
(a) Firm is price-maker
(b) Demand curve slopes downward
(c) Price discrimination possibility arises
(d) All the above

7. Price discrimination is found in which market ?
(a) Pure Competition
(b) Perfect Competition
(c) Monopoly
(d) Monopolistic Competition

8. Market situation where there is only one buyer is:
(a) Monopoly
(b) Monopsony
(c) Duropoly
(d) None of these

9. Which of the following is a feature of perfect competition ?
(a) Large Number of Buyers and Sellers
(b) Homogeneous Units of the Product
(c) Perfect Knowledge of the Market
(d) All the above

10. 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

11. Which is a basic for the classification of the market ?
(a) Perfect Competition
(b) Zero Competition (Monopoly)
(c) Imperfect Competition
(d) All the above

12. Which factor determines Equilibrium Price ?
(a) Demand for Commodity
(b) Supply of Commodity
(c) Both (a) and (b)
(d) None of the above

13. Price of a commodity is determined at a point where :
(a) Demand exceeds
(b) Supply exceeds
(c) Demand equals supply
(d) None of these

14. Which is a characteristic of the market ?
(a) One Area
(b) Presence of both Buyers and Sellers
(c) Single Price of the Commodity
(d) All the above

15. Which one is a feature of monopolistic competition ?
(a) Differentiated Product
(b) Selling Cost
(c) Imperfect Knowledge of the Market
(d) All the above

Follow on Facebook