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Which of the following statement(s) about the 'labour market' is/are true?
1. Like a commodity market, the relationship between a buyer and a seller in a labour market is temporary.
2. There is a diversity of wage rates in a labour market even for similar nature of work.
3. Monopoly in the labour market is extremely rare.
4. Monopsony referring to the buyer's control is more in the labour market.
Which of the following statements are correct. Answer using the given below:
(1) Ascertainment of goods for sale is done by buyer.
(2) Appropriation of goods for sale is done by seller.
(3) Distinction between ascertainment of goods and appropriation of goods that former involves lithe element of common intention between buyer and seller", whereas later can be a unilateral act by buyer.
(4) Property in goods does not pass to buyer till appropriation.
A milk seller and a fruit seller are two enemies, jealous from each other’s progress. One day the fruit seller found that the milk seller had mixed 20% water in the milk. Out of fear he replaced one litre of mixture with one litre of pure milk which was worth Rs. 80. Milk seller had 20 litre of mixture initially, but still after fruit seller’s work on his mixture, he was in profit. Find his profit percentage.
Statement I It is a pre-condition of right of stoppage in transit that seller must have parted with possession of goods.
Statement II Unpaid seller can exercise his rights of resale when goods are in his possession.
Statement III Where property in goods has been passed to the buyer, seller can file a suit against buyer for recovery of price.
Which of the above statement(s) is/are true?
Mr. Justin wanted to test his students' understanding of the 'nature of weekly markets from a seller's point of view'. Which of the following questions are suited to test this? i. Can a weekly market address all the needs of a family? Why or why not? ii. Compare and contrast the characteristics of a weekly market and a permanent shop. iii. Are you likely to find a well-known brand as part of a weekly market? Why or why not? iv. Can any seller increase their price a lot compared to other sellers in a weekly market? Why or why not?
A fruit seller sells \({1 \over 4}\) of all his oranges to a buyer, and \({4 \over 15}\) of the remaining oranges to another buyer. If there are 33 oranges still left with him, how many oranges did the second buyer buy from him?
The question given below consists of a statement, followed by three arguments I, II and III. You have to decide which of the arguments is/are ‘strong’ arguments is/are ‘weak’ arguments and accordingly choose your answer from the alternatives given below each question. Statement: The domestic equity market has become supervolatile  and converted the psychology of every market participant into fear. Greed and fear continue to alternate in the market, like the two sides of a coin. To a seasoned player, there seems to be nothing new as such instances of panic-selling often occur time and again. Why? Arguments: I. Since demonetisation, herd mentality had jacked up financials, banks and NBFC stocks to great heights on the pretext of financial inclusion and formalisation of the economy. This caused the financials gain disproportionate share in Nifty50 at 35 per cent of the free float market capitalisation, which was unheard of in the past.  II. The domestic market seems to be deeply oversold and can rebound on any good news. The Nifty50 has taken long-term support at the three-year trend line, which makes a case for the correction to near its end. III. Investors, therefore, should not panic and sell off shares. Instead they should do the reverse and gather the courage to pump in more money into the market by picking quality stocks or investing in ETFs for more stable returns. 
Where the goods are of perishable nature or where the. unpaid seller exercises his right of lien or right of stoppage of goods in transit and gives notice to buyer for payment and buyer does not payor tender within reasonable time, an unpaid seller may:
Where the seller wrongfully neglects or refuses to deliver the goods to the buyer, the buyer may sue the seller for:
Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives.
Most economists in the United States seem captivated by the spell of the free market. Consequently, nothing seems good or normal that does notaccord with the requirements of the free market. A price that is determined by the seller or, for that matter (for that matter: so far as that isconcerned), established by anyone other than the aggregate of consumers seems pernicious. Accordingly, it requires a major act of will to thinkof price-fixing (the determination of prices by the seller) as both "normal" and having a valuable economic function. In fact, price-fixing is normalin all industrialized societies because the industrial system itself provides, as an effortless consequence of its own development, the price-fixingthat it requires. Modern industrial planning requires and rewards great size. Hence, a comparatively small number of large firms will be competingfor the same group of consumers. That each large firm will act with consideration of its own needs and thus avoid selling its products for morethan its competitors charge is commonly recognized by advocates of free-market economic theories. But each large firm will also act with fullconsideration of the needs that it has in common with the other large firms competing for the same customers.
What does not seem as not good or normal in the context of this essay?