Price discrimination is most commonly possible under which market structure? MCQ with Answer and Explanation

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Price discrimination is most commonly possible under which market structure?

A. Perfect competition

B. Monopolistic competition

C. Oligopoly

D. Monopoly

Answer: Option D

Solution (By JKSSB Mock Tests)

A monopolist can practise price discrimination because it has market power and can prevent resale.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Goods and Services Tax' rate on footwear up to Rs 1,000 is:

A. 5%

B. 0%

C. 12%

D. 18%

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Correct Answer: Option A

Explanation:
Footwear up to Rs 1,000 attracts 5% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Federal Reserve System' is the central bank of:

A. United States

B. Germany

C. United Kingdom

D. Japan

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Correct Answer: Option A

Explanation:
The Federal Reserve System is the central bank of the United States.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on airline services is:

A. 5% economy and 12% business class

B. 5% for all classes

C. 12% for all classes

D. 18% for all classes

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Correct Answer: Option A

Explanation:
Economy class air travel is 5%, business class is 12%.

This question belongs to: Economy GK Economy Set 1

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