Understanding Markets Class 9 GK MCQ Question and Answers. Important MCQ on Understanding Markets Subject.
Understanding Markets Class 9 GK MCQ
(01) What are the Markets?
(a) Where producer produce the material to consumer.
(b) Where the manufacturer produces the material to customer.
(c) Where buyers and sellers can meet to complete the transaction.
(d) None of the above.
Ans.: – (c) Where buyers and sellers can meet to complete the transaction.
(02) How many types are there in market?
(a) Four
(b) Five
(c) Two
(d) Three
Ans.: – (a) Four
(03) What are the different types of global markets?
(a) Consumer
(b) Business
(c) Government
(d) All above
Ans.: – (d) All above
(04) Which following statement is not correct regarding Big Mall’s?
(a) Big Mall’s are established in city area.
(b) Air-conditioned multi shops at mall Building.
(c) Prices are fluctuated at mall for non-branded items.
(d) Branded items and fixed prices at mall.
Ans.: – (c) Prices are fluctuated at mall for non-branded items.
(05) On line purchases we must need?
(a) Pan card
(b) Aadhar card
(c) Ration card
(d) Debit/Credit card
Ans.: – (d) Debit/Credit card
(06) What is the Shut-down point for a firm?
(a) Average revenue ≥ Average variable cost
(b) Average revenue = Average cost
(c) Average revenue≥ Average cost
(d) Average revenue = Average variable cost
Ans.: – (d) Average revenue = Average variable cost
(07) Excess capacity is not noticed in which type of the market conditions?
(a) Oligopoly
(b) Perfect competition
(c) Monopoly
(d) Monopolistic competition
Ans.: – (b) Perfect competition
(08) Price discrimination under monopoly depends on?
(a) Elasticity of demand for the commodity.
(b) Elasticity of supply of commodity.
(c) The size of the market where he sells.
(d) Taxes and other overhead expenses included.
Ans.: – (a) Elasticity of demand for the commodity.
(09) In which situations is it necessary to bear the selling cost?
(a) Monopoly
(b) Monopolistic Competition
(c) Perfect Competition
(d) None of above
Ans.: – (b) Monopolistic Competition
(10) When there is one buyer and many sellers an economic condition is?
(a) Monopsony
(b) Oligopoly
(c) Monopoly
(d) Perfect competition
Ans.: – (a) Monopsony
(11) Mostly people go to a weekly market because of?
(a) They get different things at one place.
(b) They get things at cheaper rates.
(c) They can allow to bargain and get things they want.
(d) All the above.
Ans.: – (d) All the above.
(12) Who is called a retailer?
(a) A retailer is a small trader.
(b) A retailer buys goods from wholesaler.
(c) A retailer can sell goods to the consumers.
(d) All the above.
Ans. : (d) All the above.
(13) Consumer can not buy the goods from Producers, because of?
(a) Producer not interested to sell to consumer.
(b) Consumer is not interested to buy from producer.
(c) Producer not interested on selling goods in small quantities.
(d) Wholesalers cannot allow to consumer to buy from producers.
Ans.: – (c) Producer not interested on selling goods in small quantities.
(14) Where are goods produced?
(a) Goods are produced in factories only.
(b) Goods are produced on farms.
(c) Goods are produced in home.
(d) All the above.
Ans.: (d) All the above.
(15) Which market called roadside market?
(a) Grocery sellers
(b) Neighbor stalls
(c) Weekly markets
(d) Vegetable hawker, fruit vendor, Mechanic etc.
Ans.: – (d) Vegetable hawker, fruit vendor, Mechanic etc.
(16) Who is a correct weekly merchant from following?
(a) Farmers sell their goods in weekly market .
(b) Local traders sell their goods in weekly market.
(c) That person who sells homemade items in a week.
(d) A Person buys goods from a large trader and sell in seven different
Markets in a week.
Ans.: – (d) A Person buys goods from a large trader and sell in seven different Markets in a week.
(17) Benefit from Neighborhood Shops?
(a) Provide quality goods being neighborhood.
(b) Provide quality, quantity, goods at our doorstep.
(c) Provide goods on credit.
(d) None of these
Ans.: – (c) Provide goods on credit.
(18) Wholesale markets found in Delhi are?
(a) Nashirabad and gulshanabad
(b) Okhla and Azadpur
(c) Old Delhi
(d) None of above
Ans.: – (b) Okhla and Azadpur
(19) Which types of shop is not found in our neighborhood?
(a) Grocery
(b) Dairy
(c) Departmental store
(d) Shopping complex
Ans.: – (d) Shopping complex
(20) In a perfect competition, who set the prices?
(a) Sellers
(b) Buyers
(c) Both buyers and sellers
(d) Government
Ans.: – (c) Both buyers and sellers
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