Question

Tick the correct answer
1. There are several chances of market failures in laissez-faire capitalism; and to improve the efficiency of market and as its corrective measure
(a) Government intervention is advocated
(b) Private intervention is advocated
(c) Monopoly power is advocated
2. Market failure can occur when
(a) Monopoly power exists in the market
(b) markets are missing
(c) moral hazard and adverse selection exist
(d) All of the above
3. A good is considered to be non-rival in consumption, when
(a) two or more persons can consume the same good
(b) only one Person consume it
(c) it is a non-consumable good
(d) None of the above
4. Which is the main point of difference between public and private finances?
a) Borrowing ( )
(b) Secrecy ( ) (c) Price policy ( )
(d.) All of the above
5. Focus of marketing activity is always on
(a) Consumers’ need
(b) Producer’s need
(c) Government’s needs
(d) Taxable need​

Answer 1

Answer:

1  .Ans:(c) Monopoly power is advocated

2.Ans:  (d) All of the above

3.  Ans:(d) None of the above

4.  Ans:(d.) All of the above

5.Ans: (a) Consumers’ need

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Explanation: