Practice Some Economics and Commercial Knowledge Questions for CA Foundation (2024)

1. Monopolist Charges different price for his commodity in discriminating monopoly implies:

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2. The Pure monopolist in the long run can make pure profit due to :

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3. Which of the following is the exception to the law of demand:

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4. Minimum assured price to the farmers to purchase their output by the government is called:

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5. Economic indicator required to predict the turning point of business cycle is :

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6. Elasticity of supply to the degree of responsiveness of supply of a good to changes in its;

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7. Monopsony market and monopoly market when combined is called:

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8. Which of the following is not a characteristic of monopolistic competition?

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Answer Key 1. Ans. D 2. Ans. C 3. Ans. D 4. Ans. C 5. Ans. D 6. Ans. B 7. Ans. D 8. Ans. C

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Practice Some Economics and Commercial Knowledge Questions for CA Foundation (2024)

1. Monopolist Charges different price for his commodity in discriminating monopoly implies:

(a) At different places (b) For different uses (c) From different group of consumers (d) Any of the above

Select Your Answer:

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2. The Pure monopolist in the long run can make pure profit due to :

(a) High Selling Price (b) Advertising (c) Low LAC Cost (d) Blocked entry

Select Your Answer:

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3. Which of the following is the exception to the law of demand:

(a) Speculative goods (b) Conspicuous necessities (c) Future expectation about prices (d) Income effect

Select Your Answer:

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4. Minimum assured price to the farmers to purchase their output by the government is called:

(a) Market Price (b) Equilibrium Price (c) Support Price (d) Ceiling Price

Select Your Answer:

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5. Economic indicator required to predict the turning point of business cycle is :

(a) Leading indicator (b) Lagging indicator (c) Coincident (d) All of the above

Select Your Answer:

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6. Elasticity of supply to the degree of responsiveness of supply of a good to changes in its;

(a) Demand (b) Price (c) Cost of production (d) State of technology

Select Your Answer:

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7. Monopsony market and monopoly market when combined is called:

(a) Oligopoly market (b) Monopolistic market (c) Duopoly market (d) Bilateral Money Market

Select Your Answer:

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8. Which of the following is not a characteristic of monopolistic competition?

(a) Ease of entry into the industry (b) Product differentiation (c) A homogeneous Product (d) A relatively large number of sellers

Select Your Answer:

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Answer Key 1. Ans. D 2. Ans. C 3. Ans. D 4. Ans. C 5. Ans. D 6. Ans. B 7. Ans. D 8. Ans. C

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