Inequality in Markets

Q. What is the link between markets and equality?

1. Some markets sell expensive things.
2. Markets are of different types.
3. All buyers can afford to buy branded goods.
4. All traders can sell branded goods.

Q. What is perfect competition? Write the major characteristics of a perfectly competitive market.

Q. A person's decision to buy from which market depends mainly on _____________.

1. the money they have
2. the hygiene of the market
3. the product quality
4. the service in the market

Q. Inequality exists between ___________ of different markets.

1. sellers
2. traders
3. traders and sellers
4. buyers

Q. Which among the following compete against each other?

1. Malls
2. Supermarkets
3. Small shops
4. Weekly markets

Q. There is ___________ among traders and buyers.

1. competition
2. settlement
3. inequality
4. hatred

Q.

Why is price important in the marketing mix?

Q. Small shop owners cannot compete with big supermarkets because __________.

1. they don't have enough money to invest in bigger stores
2. they are always in different locations
3. they consider supermarkets more helpful
4. they do not affect their businesses.

Q. Which of the following is not a feature of monopoly?

1. There are other substitutes for the commodity
2. There is a single producer of a commodity
3. There are no substitutes for the commodity
4. There are restrictions on entry of any other firm

Q. exists between different types of sellers because of the kind of market they operate in.

1. Inequality
2. Equality
3. Monopoly
4. Oligopoly

Q.

why is price important in the marketing mix?