India's trusted Educational Blog

Language :


English language Practice Questions for IBPS Clerk Mains
 
Question 1
Paragraph1: Monopoly is a market situation in which the cross elasticity of demand with every other product is very low. This means that no other firms produce a similar product. Thus, the monopoly firm is itself an industry and the monopolist faces the industry demand curve. The demand curve for his product is, therefore, relatively stable and, ...
Paragraph1: Monopoly is a market situation in which the cross elasticity of demand with every other product is very low. This means that no other firms produce a similar product. Thus, the monopoly firm is itself an industry and the monopolist faces the industry demand curve. The demand curve for his product is, therefore, relatively stable and slopes downward to the right, given the tastes and ____________ of his customers.
Paragraph2: Oligopoly is the typical market form where competition is much less impersonal than in monopolistic competition because the number of producers is fewer. Under oligopoly any substantial change in the market share of one firm, whether achieved by lower prices, better products or more advertising, will have significant effects on the market share at the expense of any one of them. Each firm has to be prepared to look for devices of limiting the effects of competition, perhaps by agreeing to rule out some of the most damaging types of competitive action.
 
What is the difference between Monopoly and Oligopoly markets as inferred from the paragraphs?
 
  • A
  • B
  • C
  • D
  • E
Question 2
Paragraph1: Monopoly is a market situation in which the cross elasticity of demand with every other product is very low. This means that no other firms produce a similar product. Thus, the monopoly firm is itself an industry and the monopolist faces the industry demand curve. The demand curve for his product is, therefore, relatively stable and, ...
Paragraph1: Monopoly is a market situation in which the cross elasticity of demand with every other product is very low. This means that no other firms produce a similar product. Thus, the monopoly firm is itself an industry and the monopolist faces the industry demand curve. The demand curve for his product is, therefore, relatively stable and slopes downward to the right, given the tastes and ____________ of his customers.
Paragraph2: Oligopoly is the typical market form where competition is much less impersonal than in monopolistic competition because the number of producers is fewer. Under oligopoly any substantial change in the market share of one firm, whether achieved by lower prices, better products or more advertising, will have significant effects on the market share at the expense of any one of them. Each firm has to be prepared to look for devices of limiting the effects of competition, perhaps by agreeing to rule out some of the most damaging types of competitive action.
 
Which of the following can appropriately fill the blank given in the Paragraph 1?
 
  • A
  • B
  • C
  • D
  • E
Question 3
Paragraph1: Monopoly is a market situation in which the cross elasticity of demand with every other product is very low. This means that no other firms produce a similar product. Thus, the monopoly firm is itself an industry and the monopolist faces the industry demand curve. The demand curve for his product is, therefore, relatively stable and, ...
Paragraph1: Monopoly is a market situation in which the cross elasticity of demand with every other product is very low. This means that no other firms produce a similar product. Thus, the monopoly firm is itself an industry and the monopolist faces the industry demand curve. The demand curve for his product is, therefore, relatively stable and slopes downward to the right, given the tastes and ____________ of his customers.
Paragraph2: Oligopoly is the typical market form where competition is much less impersonal than in monopolistic competition because the number of producers is fewer. Under oligopoly any substantial change in the market share of one firm, whether achieved by lower prices, better products or more advertising, will have significant effects on the market share at the expense of any one of them. Each firm has to be prepared to look for devices of limiting the effects of competition, perhaps by agreeing to rule out some of the most damaging types of competitive action.
 
What is inferred regarding the monopolistic market in the paragraphs?
 
  • A
  • B
  • C
  • D
  • E
Question 4
Paragraph1: Monopoly is a market situation in which the cross elasticity of demand with every other product is very low. This means that no other firms produce a similar product. Thus, the monopoly firm is itself an industry and the monopolist faces the industry demand curve. The demand curve for his product is, therefore, relatively stable and slopes, ...
Paragraph1: Monopoly is a market situation in which the cross elasticity of demand with every other product is very low. This means that no other firms produce a similar product. Thus, the monopoly firm is itself an industry and the monopolist faces the industry demand curve. The demand curve for his product is, therefore, relatively stable and slopes downward to the right, given the tastes and ____________ of his customers.
Paragraph2: Oligopoly is the typical market form where competition is much less impersonal than in monopolistic competition because the number of producers is fewer. Under oligopoly any substantial change in the market share of one firm, whether achieved by lower prices, better products or more advertising, will have significant effects on the market share at the expense of any one of them. Each firm has to be prepared to look for devices of limiting the effects of competition, perhaps by agreeing to rule out some of the most damaging types of competitive action.
 
What is mentioned regarding the nature of competition in the second paragraph?
 
 
  • A
  • B
  • C
  • D
  • E
Question 5
aragraph1: Monopoly is a market situation in which the cross elasticity of demand with every other product is very low. This means that no other firms produce a similar product. Thus, the monopoly firm is itself an industry and the monopolist faces the industry demand curve. The demand curve for his product is, therefore, relatively stable and slopes, ...
aragraph1: Monopoly is a market situation in which the cross elasticity of demand with every other product is very low. This means that no other firms produce a similar product. Thus, the monopoly firm is itself an industry and the monopolist faces the industry demand curve. The demand curve for his product is, therefore, relatively stable and slopes downward to the right, given the tastes and ____________ of his customers.
Paragraph2: Oligopoly is the typical market form where competition is much less impersonal than in monopolistic competition because the number of producers is fewer. Under oligopoly any substantial change in the market share of one firm, whether achieved by lower prices, better products or more advertising, will have significant effects on the market share at the expense of any one of them. Each firm has to be prepared to look for devices of limiting the effects of competition, perhaps by agreeing to rule out some of the most damaging types of competitive action.
 
. Which one is better Monopoly or Oligopoly in accordance with the information given above?
 
  • A
  • B
  • C
  • D
  • E

         

CRACK IBPS CLERK EXAM

IBPS CLERK - ONLINE TEST

IBT Institute offer you the most trusted and highly recommended Test Series for IBPS CLERK Exam. 8 out of every 10 candidates selected in IBPS CLERK last year opted for IBT Online Test Series.

IBPS CLERK - CLASS ROOM COURSE

Keeping in mind the IBPS CLERK Exam, IBT has launched Special batches for IBPS CLERK Exam to guide you through your preparations. Seats filling fast. Don’t miss out!!


 

Image result for IBPS Logo hd

Correspondence Course

For SBI PO Exam (Pre+Main)

9 Books , 350 Tests 

52 Assignments , Online Doubts

BUY NOW