Dear Readers,
1. What is the primary purpose of competition policy in a mixed economy?
a) To restrict competition and protect large corporations.
b) To ensure that there are no private businesses in the market.
c) To promote fair competition and prevent anti-competitive practices.
d) To eliminate competition altogether.
e) None of these
Answer: c
2. In a mixed economy, what is a common way the government supports business development and innovation?
a) By imposing heavy taxes on businesses.
b) By providing subsidies and grants to businesses.
c) By setting price controls on products.
d) By nationalizing all businesses.
e) None of these
Answer: b
3. Which of the following is a key feature of a mixed economy's labor market?
a) The government dictates all aspects of employment.
b) Workers have no job security.
c) Collective bargaining and unions play a role in setting labor standards.
d) Workers are not entitled to any benefits.
e) None of these
Answer: c
4. How does a mixed economy address environmental concerns related to competition?
a) It completely ignores environmental issues.
b) It enforces strict regulations to protect the environment.
c) It encourages businesses to prioritize profit over environmental sustainability.
d) It allows businesses to do as they please without oversight.
e) None of these
Answer: b
5. In a mixed economy, what is the significance of intellectual property laws in relation to competition?
a) They promote piracy and copyright infringement.
b) They protect the rights of individuals and businesses to their creations, promoting innovation.
c) They limit access to information and ideas.
d) They have no impact on competition.
e) None of these
Answer: b
6. Which type of competition typically leads to higher product quality and innovation in a mixed economy?
मिश्रित अर्थव्यवस्था में किस प्रकार की प्रतिस्पर्धा आम तौर पर उच्च उत्पाद गुणवत्ता और नवीनता की ओर ले जाती है?
a) Monopolistic competition
b) Perfect competition
c) Oligopoly
d) Monopoly
e) None of these
Answer: b
7. How does a mixed economy balance the need for profit with the need for social welfare and equity?
a) By prioritizing profit at all costs.
b) By completely disregarding profit and focusing solely on social welfare.
c) By striking a balance between profit motives and government intervention to promote social welfare.
d) By eliminating profit motives altogether.
e) None of these
Answer: c
8. Which government agency in the United States enforces regulations and competition policy for the telecommunications industry?
a) Environmental Protection Agency (EPA)
b) Federal Communications Commission (FCC)
c) Securities and Exchange Commission (SEC)
d) Department of Agriculture (USDA)
e) None of these
Answer: b
9. What is a common argument in favor of a mixed economy's approach to competition as opposed to a purely capitalist system?
a) It stifles innovation.
b) It can lead to excessive inequality.
c) It eliminates competition entirely.
d) It provides a safety net for vulnerable citizens.
e) None of these
Answer: d
10. How do taxes typically affect businesses in a mixed economy, and why?
a) Taxes are generally very low, encouraging businesses to thrive.
b) Taxes are high, with the aim of funding public services and addressing income inequality.
c) Taxes do not apply to businesses.
d) Taxes are only imposed on large corporations.
e) None of these
Answer: b
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MAHENDRA GURU