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Basics of Economics Flashcards | StudBud

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How many sellers are there in Monopoly Market?

Which market has large no of buyers and seller?

Basics of Economics

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Questions 7

Answers

1
Which market has large no of buyers and seller?
Perfect Competition
Monopoly
Oligopoly
Monopolistic Competition
2
How many sellers are there in Monopoly Market?
Two
Large No of sellers
One
Few sellers
3
Economic growth can be seen by
Increase in quality of life
Same as development
None of the above
Increase in numbers
4
How many principles of economics are there?
4
5
21
10
5
Micro Economics was coined by?
Keynes
Robert Lucas
Ragnar Frisch
Adam Smith
6
Which is exception to law of demand?
Subsitute goods
Complementary goods
Giffen goods
Higher prices
7
Law of demand
Price increase, demand increase
Price increase, demand decrease
Price has no impact on demand
Price increase, demand doesnt change