Samacheer Kalvi 7th Social Science Civics Questions & Answers - 1
Question: 1
_____ statue is regarded as the Magna Carta in the field of consumer protection for checking unfair trade practices.
Answer:
COPRA
Question: 2
A set up where two or more parties engage in ______ of goods, service and information is called a market.
Answer:
Exchange
Question: 3
_____ refers to a market structure in which there is a Single producer or seller that has a control on the entire market.
Answer:
Monopoly
Question: 4
In regulated Markets, there is some oversight by appropriate ______ authorities.
Answer:
Government
Question: 6
The term monopolistic competition was given by ______
Answer:
Prof Edward H. Chamberlin
Question: 7
In a ______ market, the supply can be changed easily by scaling production.
Answer:
Long period
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