A. Atomistic competition
B. No-limit competition
C. Free-for-all competition
D. Heterogeneous market
Related Mcqs:
- “Under conditions of perfect competition, the price at which any given product will be supplied and purchased is the price that will result in the supply and the demand being equal.” This statement is known as the_________________?
A. Law of diminishing return
B. Law of supply
C. Law of demand
D. Law of supply and demand - A _____________ is a market situation where economies of scale are so significant that cost are only minimized when the entire output of an industry is supplied by a single producer so that the supply costs are lower under monopoly that under perfect competition ?
A. Perfect monopoly
B. Bilateral monopoly
C. Natural monopoly
D. Ordinary monopoly - Aside from many sellers and many buyers, which one is a characteristic of perfect competition ?
A. Homogeneous product
B. Free market entry and exit
C. Perfect information and absence of all economic friction
D. All of the above - What is the opposite of perfect competition ?
A. Monopsony
B. Oligopoly
C. Oligopsony
D. Monopoly - Perfect monopoly exists only if_______________?
A. the single vendor can prevent the entry of all other vendors in the market
B. the single vendor gets the absolute franchise of the product
C. the single vendor is the only one who has the permit to sell
D. the single vendor is the only one who has the knowledge of the product - What is defined as a financial security note issued by business or corporation and by the government as a means of borrowing long-term fund ?
A. T-bills
B. Securities
C. Bond
D. Bank notes - What is the term for an annuity with a fixed time span ?
A. Ordinary annuity
B. Perpetuity
C. Annuity certain
D. Annuity due - What is an accounting term that represents an inventory account adjustment ?
A. Cost of goods sold
B. Cost accounting
C. Standard cost
D. Overhead cost - What is another term for “current assets” ?
A. Fixed assets
B. Non-liquid assets
C. Liquid assets
D. Ccash - What is another term for “acid-test ratio” ?
A. Current ratio
B. Quick ratio
C. Profit margin ratio
D. Price-earnings ratio
