Regulation of Markets and Competition Policy
Economics ⇒ Government and the Economy
Regulation of Markets and Competition Policy starts at 11 and continues till grade 12.
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See sample questions for grade 11
Describe the difference between a monopoly and perfect competition.
Describe the impact of government-imposed minimum wages on the labour market.
Describe the impact of price ceilings on market equilibrium.
Explain how government regulation can help in correcting negative externalities.
Explain the concept of 'barriers to entry' and give one example.
Explain the role of government in ensuring competitive markets.
Explain the term 'cartel' and its impact on market competition.
Explain the term 'market failure' and give one example relevant to the Indian economy.
Which of the following is a consequence of lack of competition in markets? (1) Lower prices (2) Higher efficiency (3) Poor quality of goods (4) Greater consumer choice
Which of the following is a function of the Competition Commission of India? (1) Regulating stock exchanges (2) Preventing anti-competitive agreements (3) Issuing currency (4) Setting interest rates
Which of the following is a reason for government intervention in markets? (1) To increase profits of private firms (2) To correct market failures (3) To reduce consumer welfare (4) To promote monopolies
Which of the following is a regulatory authority for the securities market in India? (1) RBI (2) SEBI (3) TRAI (4) IRDAI
Fill in the blank: ________ is the government body responsible for regulating the insurance sector in India.
Fill in the blank: ________ is the practice of selling goods below cost to drive competitors out of the market.
Fill in the blank: ________ is the term for a market with only a few sellers.
Fill in the blank: A ________ is a market structure where a single seller controls the entire market.
State True or False: Deregulation always leads to better market outcomes.
State True or False: Price floors can lead to surpluses in the market.
State True or False: Regulation of natural monopolies is necessary to prevent exploitation of consumers.
State True or False: The government can use subsidies as a tool to regulate markets.
