Which of the following is a market structure based on the number of sellers? MCQ with Answer and Explanation

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Which of the following is a market structure based on the number of sellers?

A. Only monopolistic competition as buyer-based

B. Only monopsony

C. Only bilateral monopoly

D. Monopoly, duopoly, oligopoly and perfect competition

Answer: Option D

Solution (By JKSSB Mock Tests)

Market structures classified by the number of sellers include monopoly (one), duopoly (two), oligopoly (few) and perfect competition (many).

This question belongs to: Economy GK Economy Set 1

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Question #1

Regional Rural Banks are sponsored by:

A. State governments only

B. RBI only

C. scheduled commercial banks

D. NABARD only

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Correct Answer: Option C

Explanation:
Regional Rural Banks are sponsored by scheduled commercial banks along with central and state governments.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of elasticity, if income elasticity of demand for a good is negative, the good is:

A. Normal good

B. Necessary good

C. Inferior good

D. Luxury good

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Correct Answer: Option C

Explanation:
A negative income elasticity of demand indicates that the good is inferior; demand for it falls as income rises.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a feature of the 'Covered Interest Parity' condition?

A. Only uncovered interest parity holds

B. Interest rates are always equal across countries

C. Exchange rates are fixed

D. The interest differential between two countries equals the forward premium or discount on the exchange rate

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Correct Answer: Option D

Explanation:
Covered interest parity states that the interest rate differential between two currencies equals the forward premium or discount, eliminating covered arbitrage opportunities.

This question belongs to: Economy GK Economy Set 1

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