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![Balbharati solutions for Economics [English] 12 Standard HSC chapter 5 - Forms of Market - Shaalaa.com](/images/economics-english-12-standard-hsc_6:241bfd6f9011433b9b44c9de23ef18a7.JPG "Balbharati solutions for Economics [English] 12 Standard HSC chapter 5 - Forms of Market")
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Solutions for Chapter 5: Forms of Market
Below listed, you can find solutions for Chapter 5 of Maharashtra State Board Balbharati for Economics [English] 12 Standard HSC.
Balbharati solutions for Economics [English] 12 Standard HSC 5 Forms of Market EXERCISE [Pages 51 - 52]
In an economic sense, the market includes the following activities
- The place where goods are sold and purchased.
- An arrangement through which buyers and sellers come in close contact with each other directly or indirectly.
- A shop where goods are sold.
- All of the above.
a and b
b and c
a, b and c
only b
Choose the correct option:
Classification of markets on the basis of place
a) Local market, National market, International market
b) Very short period market, Local market, National market.
c) Short period market, National market, International market.
d) Local market, National market, Short period market.
a, b and c
b, c and d
only a
a and d
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
c and d
a, b and c
a, c and d
only c
Choose the correct option:
Under Perfect competition, sellers are
a) Price makers
b) Price takers
c) Price discriminators
d) None of these
a, b and c
only b
only c
a and c
Give economic term:
The market where there are few sellers.
Give economic term:
The point where demand and supply curve intersect.
Give economic term:
The cost incurred by the firm to promote sales.
Give economic term:
The number of firms producing identical products.
Give economic term:
Charging different prices to different consumers for the same product or services.
Complete the correlation:
Perfect competition : Free entry and exit : : ______ : Barriers to entry.
Complete the Correlation:
Price taker : ______ :: Price maker :: Monopoly.
Complete the Correlation:
Single price : Perfect competition :: Discriminated prices : ______
Find the odd word out:
Selling cost:
Free gifts
Advertisement hoardings
Window displays
Patents
Find the odd word out:
Market structure on the basis of competition: Monopoly, Oligopoly, Very Short Period market, Perfect competition.
Find the odd word out:
Features of monopoly:
Price maker
Entry barriers
Many sellers
Lack of substitutes
Find the odd word out:
Legal monopoly:
Patent
OPEC
Copyright
Trademark
Explain the features of Oligopoly.
Name and explain the types of monopoly.
Observe the following table and answer the questions:
| Price of a banana (per dozen) in ₹ | Demand (in dozen) | Supply (in dozen) | Relation between DD and SS |
| 10 | 500 | 100 | DD > SS |
| 20 | 400 | _____ | DD > SS |
| 30 | _____ | 300 | DD = SS |
| 40 | 200 | _____ | DD < SS |
| 50 | ______ | 500 | DD < SS |
- Fill in the blanks in the above schedule.
- Derive the equilibrium price from the above schedule with the help of a suitable diagram.
What is Monopolistic Competition? Explain in detail the features of Monopolistic Competition.
What is perfect competition? Explain the concept and its features.
Solutions for 5: Forms of Market
Balbharati solutions for Economics [English] 12 Standard HSC chapter 5 - Forms of Market
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Concepts covered in Economics [English] 12 Standard HSC chapter 5 Forms of Market are Forms of Market, Classification of Market, Market, Perfect Competition, Price determination under Perfect Competition, Imperfect Competition, Monopoly, Types of Monopoly, Oligopoly, Monopolistic Competition.
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