Micro Economics MCQ (GK Set-1) with Answers

1-F,2-T,3-T

1-T,2-T,3-T

1-F,2-F,3-T

1-F,2-F,3-F

1-T,2-F,3-T

1-T,2-T,3-T

1-F,2-F,3-T

1-F,2-F,3-F

1-T,2-T,3-T,4-T

1-T,2-T,3-F,4-F

1-F,2-F,3-T,4-T

1-F,2-F,3-F,4-F

All of these answers are characteristics of a competitive market.

There are many buyers and sellers in the market

The goods offered for sale are largely the same

Firms generate small but positive economic profits in the long run

electricity

cable television

cola

milk