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: 5

The stock market is a highly ______ market.

Answer:

Regulated

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