Question : Match the following:
| Form of market | Number of sellers and buyers |
| 1. Oligopoly | a. Large number of sellers and buyers. |
| 2. Monopoly | b. There are few big sellers and a large number of buyers. |
| 3. Perfect competition | c. One seller but large numbers of buyers. |
Option 1: 1 - b, 2 - c, 3 - a
Option 2: 1 - c, 2 - a, 3 - b
Option 3: 1 - a, 2 - b, 3 - c
Option 4: 1 - b, 2- a, 3 - c
Correct Answer: 1 - b, 2 - c, 3 - a
Solution : The correct answer is 1 - b, 2 - c, 3 - a .
In a perfect competitive market structure, there are many buyers and sellers. In an oligopoly, there are only a few firms in the market. In a monopoly type of market structure, there is only one seller, so a single firm will control the entire market. Market structure makes it easier to understand the characteristics of diverse markets.
Related Questions
Question : Match the following:
| Festival | State |
| 1. Gangaur | a. West Bengal |
| 2. Ganesh Chaturthi | b. Rajasthan |
| 3. Durga Puja | c. Maharashtra |
Option 1: 1-b, 2-c, 3-a
Option 2: 1-c, 2-a, 3-b
Option 3: 1-b, 2-a, 3-c
Option 4: 1-a, 2-c, 3-b
Question : Match the following:
| Sector | Example |
| 1. Primary | a. Consultancy |
| 2. Secondary | b. Apiculture |
| 3. Tertiary | c. Shoe factory |
Option 1: 1 - b, 2 - c, 3 - a
Option 2: 1 - c, 2 - a, 3 - b
Option 3: 1 - a, 2 - c, 3 - b
Option 4: 1 - c, 2 - b, 3 - a
Question : Match the following neighbouring countries of India with their official languages.
| Country | Official Language |
| 1. Sri Lanka | a.Dzongkha |
| 2. Bhutan | b.Burmese |
| 3. Myanmar | c.Sinhala |
Option 1: 1-a, 2-c, 3-b
Option 2: 1-a, 2-b, 3-c
Option 3: 1-c, 2-a, 3-b
Option 4: 1-b, 2-a, 3-c
Question : Match the source in Column B with the product of Column A.
|
Column A ((Product) |
Column B((Source) |
| (a) Formic acid | (1) Lemon |
| (b) Citric acid | (2) Tamarind |
| (c) Tartaric acid | (3) Ants |
Option 1: a b c
3 2 1
Option 2: a b c
3 1 2
Option 3: a b c
2 3 1
Option 4: a b c
2 1 3
Question : Match the industrial plant with its location.
| Name of the industrial plant | Related location |
| 1. BALCO | A) Burnpur |
| 2. IISCO | B) Chennai |
| 3. NFL | C) Korba |
| 4. ICF | D) Bhatinda |
Option 1: 1-A, 2-B, 3-C, 4-D
Option 2: 1-C, 2-A, 3-B, 4-D
Option 3: 1-C, 2-A, 3-D, 4-B
Option 4: 1-D, 2-A, 3-B, 4-C
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