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.
QuestionsToday has an evolving set of questions to continuously challenge students so that their knowledge grows in Regulation of Markets and Competition Policy.
How you perform is determined by your score and the time you take.
When you play a quiz, your answers are evaluated in concept instead of actual words and definitions used.
See sample questions for grade 12
Define 'price ceiling' and give an example of its use in India.
Describe the difference between 'regulation' and 'deregulation' in the context of markets.
Explain the concept of 'barriers to entry' with reference to Indian industries.
Explain the concept of 'contestable markets' and its relevance to competition policy.
Explain the difference between 'horizontal' and 'vertical' agreements with examples.
Explain the role of government in regulating monopolies in India.
Explain the term 'market failure' and give one example relevant to the Indian economy.
Explain the term 'natural monopoly' with an example.
Which of the following is a feature of perfect competition? (1) Single seller (2) Homogeneous products (3) Barriers to entry (4) Price discrimination
Which of the following is a reason for government intervention in markets? (1) To ensure equitable distribution of resources (2) To promote monopolies (3) To discourage competition (4) To increase market failures
Which of the following is a regulatory authority for the telecommunications sector in India? (1) SEBI (2) TRAI (3) RBI (4) IRDAI
Which of the following is an example of a positive externality? (1) Pollution from factories (2) Vaccination programmes (3) Price fixing (4) Monopoly pricing
Fill in the blank: The ________ Act was enacted in 1969 to prevent concentration of economic power in India.
Fill in the blank: The ________ is responsible for regulating the insurance sector in India.
Fill in the blank: The ________ is responsible for regulating the telecommunications sector in India.
Fill in the blank: The ________ is the regulatory authority for the banking sector in India.
State whether the following is true or false: 'Cartels are legal under Indian competition law.'
State whether the following is true or false: 'Market regulation can help in correcting negative externalities.'
State whether the following is true or false: 'Predatory pricing is considered an abuse of dominant position under Indian competition law.'
State whether the following is true or false: 'The Competition Act, 2002 applies to both goods and services markets in India.'
