CBSE Class 12 Economics Questions for Forms of Market and Price Determination

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CBSE Assignment  for Class XII Economics. Prepared by teachers of one of the best CBSE schools in Delhi. Based on CBSE and CCE guidelines. The students should practice these assignments to gain perfection which will help him to get more marks in CBSE examination.

UNIT 4

FORMS OF MARKET & PRICE

DETERMINATION

VERY SHORT ANSWER TYPE QUESTIONS (1 MARK)

1. Define market.

2. What do you mean by homogenous product?

3. How is price determined under perfect competition?

4. What is the common feature shared by perfect and monopolistic competition?

5. If the firms are earning abnormal profits, how will the number of firms in the industry change?

6. Define the monopoly market.

7. Under which market there is no difference between firm and industry?

8. What is normal profit?

9. Under which form of market the firm is price taker.

10. What is cartel?

11. What is the relationship between AR curve and demand curve in a monopoly market?

12. What do you mean by price discrimination?

13. Define oligopoly.

14. Define equilibrium price.

15. When does the situation of excess supply arise?

16. What will be the effect on equilibrium price when increase in demand is more than increase in supply?

17. Under what situation does the equilibrium price remains unaffected when there is simultaneous increase in demand and supply.


Please refer to attached file for CBSE Class 12 Economics Questions for Forms of Market and Price Determination

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