Question : A market in which there are few number of large firms is called as
Option 1: Duopoly
Option 2: Competition
Option 3: Oligopoly
Option 4: Monopoly
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Correct Answer: Oligopoly
Solution : The correct answer is Oligopoly.
An oligopoly is a market of only a few significant enterprises. In an oligopoly, a few dominant companies control a portion of the market, have the power to set pricing and dominate the industry. Consumers may experience both advantages and disadvantages from oligopolies, which occasionally decrease competition and result in higher prices.
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Question : The number of sellers in a monopoly market structure is
Option 1: few
Option 2: large
Option 3: one
Option 4: two
Question : Which one of the following is not a feature of monopoly?
Option 1: Single seller of the product
Option 2: Heavy selling cost
Option 3: Barriers to entry of new firms
Option 4: Price discrimination
Question : Directions: In the question, a part of the sentence is in bold. Below are given alternatives to the bold part at (1), (2) and (3) that may improve the sentence. Choose the correct alternative. In case no improvement is needed, your answer is (4).
There was a few drop of rain.
(1) were a few drop
(2) were a few drops
(3) was a few drops
(4) No Improvement
Option 1: (1)
Option 2: (2)
Option 3: (3)
Option 4: (4)
Question : The settlements in which a large number of houses are built very close to each other are ______.
Option 1: compact settlements
Option 2: star settlements
Option 3: linear settlements
Option 4: dispersed settlements
Question : Directions: Which one of the given responses will be a meaningful order of the following? 1. Cutting 2. Dish 3. Vegetable 4. Market 5. Cooking
Option 1: 5, 3, 2, 1, 4
Option 2: 3, 2, 5, 1, 4
Option 3: 4, 3, 1, 5, 2
Option 4: 1, 2, 4, 5, 3
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