Chapter Exam

Unit 5: Market Analysis — Online MCQ Test

Q: Which market structure is characterized by a large number of buyers and sellers, homogeneous product, and free entry and exit?

Answer: B. Perfect competition — Perfect competition has many buyers and sellers, identical products, and no barriers to entry or exit.

Q: In which market structure is there a single seller of a product with no close substitutes?

Answer: A. Monopoly — A monopoly exists when one firm controls the entire market and the product has no close substitute.

Q: In perfect competition, the firm is a

Answer: B. Price taker — A firm in perfect competition cannot influence price and must accept the market-determined price.

Q: Which market form is correctly matched with its main feature?

Answer: C. Oligopoly — few firms dominate the market — Oligopoly is a market structure where a few large firms dominate the industry.

ECONOMICS · CLASS 11 INTERMEDIATE 1 YEAR · Telangana State Board

Practice Unit 5: Market Analysis with a free chapter-wise online MCQ test for Telangana State Board CLASS 11 INTERMEDIATE 1 YEAR ECONOMICS. This chapter covers: Focusing on market structure this chapter covers perfect competition monopoly monopolistic competition oligopoly and price determination under different market forms.. AI-generated questions from basic to board-exam level, with instant results and explanations.

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Unit 5: Market Analysis — Important Questions & Answers (FAQ)

Frequently asked questions from Telangana State Board CLASS 11 INTERMEDIATE 1 YEAR ECONOMICS — Unit 5: Market Analysis, with answers and explanations. These are sample questions; the exam has its own separate question set.

Which market structure is characterized by a large number of buyers and sellers, homogeneous product, and free entry and exit?

A. Monopoly
B. Perfect competition ✓
C. Oligopoly
D. Monopolistic competition

Answer: B. Perfect competition
Perfect competition has many buyers and sellers, identical products, and no barriers to entry or exit.

In which market structure is there a single seller of a product with no close substitutes?

A. Monopoly ✓
B. Perfect competition
C. Monopolistic competition
D. Oligopoly

Answer: A. Monopoly
A monopoly exists when one firm controls the entire market and the product has no close substitute.

In perfect competition, the firm is a

A. Price maker
B. Price taker ✓
C. Monopolist
D. Cartel member

Answer: B. Price taker
A firm in perfect competition cannot influence price and must accept the market-determined price.

Which market form is correctly matched with its main feature?

A. Perfect competition — one seller controls price
B. Monopoly — many sellers selling identical goods
C. Oligopoly — few firms dominate the market ✓
D. Monopolistic competition — no product differentiation

Answer: C. Oligopoly — few firms dominate the market
Oligopoly is a market structure where a few large firms dominate the industry.

Which of the following is the correct order from highest to lowest market power of a single firm?

A. Perfect competition > monopolistic competition > oligopoly > monopoly
B. Monopoly > oligopoly > monopolistic competition > perfect competition ✓
C. Oligopoly > monopoly > perfect competition > monopolistic competition
D. Monopolistic competition > perfect competition > monopoly > oligopoly

Answer: B. Monopoly > oligopoly > monopolistic competition > perfect competition
A monopoly has the highest market power, followed by oligopoly; monopolistic competition has less, and perfect competition has the least.