Tag: economic system and economic policies

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Questions Related to economic system and economic policies

Multiple choice history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

Which of the following most closely approximates our definition of oligopoly?

  1. The cigarette industry

  2. The barber shops

  3. The gasoline stations

  4. Wheat farmers
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

An oligopoly is a market form in which a market or industry is dominated by a small number of sellers (oligopolists). Because there are few sellers, each oligopolist is likely to be aware of the actions of the others. The decisions of one firm influence, and are influenced by, the decisions of other firms. Business that are part of an oligopoly, share some common characteristics: they are less concentrated than in a monopoly, but more concentrated than in a competitive system. This creates a high amount of interdependence which encourages competition in non-price-related areas, like advertising and packaging. The tobacco companies, soft drink companies, and airlines are examples of an imperfect oligopoly.

Multiple choice history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

Which one of the following is not a element of Industrial policy of India since 1991 ?

  1. Removal of entry barriers

  2. Reservation of areas reserved exclusively for the public sector

  3. Public sector monopoly for power development

  4. Liberalisation for foreign investment policy
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Removal of entry barriers , public sector monopoly for power development and liberation of foreign investment policy were the main elements of industrial policy of India since 1991.

Multiple choice history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

Match list I with list II

List I List II
(A) IBRD (1) Balance of payment Deficit 
(B) International DevelopmentAssociation (2) Lending to private enterprise
(C) International Finance Corporation (3) Building infrastructure
(D) IMF (4) Soft loan window

 

  1. A-3; B-4; C-2; D-1

  2. A-3; B-1; C-4; D-2

  3. A-3; B-4; C-1; D-2

  4. A-4; B-3; C-2; D-1
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

IBRD (World Bank) focuses on infrastructure (3). The International Development Association (IDA) is known as the soft loan window (4). The International Finance Corporation (IFC) provides lending to private enterprises (2). The IMF handles balance of payment deficits (1).