Question : When there is only one buyer and one seller of a product, it is called a ____ situation.
Option 1: public monopoly
Option 2: bilateral monopoly
Option 3: franchised monopoly
Option 4: monopsony
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Correct Answer: bilateral monopoly
Solution : The correct answer is Bilateral monopoly.
When there is only one supplier and one buyer in the market, there is a bilateral monopoly. The one supplier will typically behave like a monopolistic power and try to charge the sole buyer high prices. The sole purchaser will aim to make the lowest payment possible. Due to their divergent objectives, the two parties must negotiate a final price that falls between their respective points of maximum profit.
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Question : Bilateral monopoly refers to the market situation of
Option 1: Two sellers , two buyers
Option 2: One seller , two buyers .
Option 3: Two sellers and one buyer .
Option 4: One seller and one buyer.
Question : In which market firm, a market or an industry is dominated by a single seller?
Option 1: Oligopoly
Option 2: Monopoly
Option 3: Duopoly
Option 4: Monopolistic competition
Question : Seller market denotes a situation where :
Option 1: Commodities are available at compititive rates .
Option 2: Demand exceed supply .
Option 3: Supply exceed demand .
Option 4: Supply and demand are evenly balanced .
Question : Which of the following is/are 'rain clouds'?
1 Cirrus
2 Nimbostratus
3 Cumulonimbus
4 Altocumulus
Option 1: 1 and 2 only
Option 2: 2 and 3 only
Option 3: 3 and 4 only
Option 4: 1 and 4 only
Question : Which one of the following hormones is called called "Emergency Hormone"?
Option 1: Adrenaline
Option 2: Thyroxine
Option 3: Vasopressin
Option 4: Insulin
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