1) How many offences did MRTP Act hold over Competition Act against the principle of

natural justice?

14 offences (ans)

4 offences

3 offences

None of the above

2) Which Act is punitive in nature?

MRTP Act

Competition Act (ans)

3) The foundation of competition policy in India is laid on which articles of Constitution of

India?

Art. 14 & 25

Art. 35 & 36

Art. 38 & 39 (ans)

Art. 82 & 52

4) LPG has brought changes in the following aspects of industrial regulation:

a) Industrial delicensing

b) Deregulation of the industrial sector

c) Foreign investment policy and foreign technology policy.

d) All the above

ans:- d
 5) Distribution of Income and Level of living was given by :-

a) Maha Lonobi’s Committee 1960

b) MRTP Act 1969
c) Saccher committee 1978
d) Non of these

Ans:- A

6) what does privatization in Liberalization, Privatization and Globalization refers to:-

a) the consolidation of the various economies of the world
b) slackening of government regulations
c) the participation of private entities in businesses and services and transfer of ownership
from the public sector (or government) to the private sector as well
d) raising the highest cap on the contribution of international capital in business ventures

ans:- c

7) Monopolies Inquiries Commission 1964 also known as:-

a) Dasgupta commission
b) Raghvan committee
c) Both
d) None of the above
Ans:- A

8) Is their any provision for Extra Territorial jurisdiction in MRTP ?

a) Yes
b) No
c) After amendment of the MRTP Act, 1969
Ans:- B
 9) what was the final outcome of report of Raghavan Committee 2000 Report :-
a) MRTP should be amended
b) MRTP should be repealed
c) Apply doctirine of eclipse on MRTP
d) None of the above
ANS:- b

10) Under which section the competition law is applicable to any enterprise, carry on
commercial activities especially by central government ?
(a) Section 21
(b) Section 54
(c) Section 72
(d) Section 10

11) Which Committee was set up to consider and report changes in MRTP Act?
(a) Dutt Committee
(b) Sachar committee
(c) Raghavan committee
(d) Nandan committee

12) Competition Act got president assent in ________?

(a) March 2001
(b) April 2005
(c) December 2003
(d) January 2003

13) CCI shall not initiate an inquiry into combination after expiry of _____ year from date of
combination has taken effect?
(a) 5 years
(b) 1 years
(c) 3years
(d) 6years
 14) _________ committee propose measure to improve upon working of stock market?
(a) Nandan committee
(b) Dutt committee
(c) Sachar committee
(d) None of these

15) which judge shall appoint to inquiry into extent and effect of concern of economic
provision in prime hands and prevention of monopolistic and restrictive trade practices
act?
(a) Justice kiran gupta
(b) Justice raj anand
(c) Justice K.C. das gupta
(d) Justice vivek malhotra

16) Monopolies Inquiries Commission 1964 also known as:-

a) Dasgupta commission
b) Raghvan committee
c) Both
d) None of the above
Ans:- A

17) What is the main purpose of competition law?

a) To protect consumers

b) To intervene in the economy

c) To remedy situations in which the free market breaks down

18) Which of the following statement is CORRECT?

a)Before 1 May 2004, only the Commission could declare that Article 81(1) was inapplicable.

b)Before 1 May 2004, only the national competition authorities could declare that Article 81(1)
was inapplicable.

c)Before 1 May 2004, there was no scope for Article 81(1) to be declared inapplicable.
 19) The five forces that affect the level of competition in an industry are

a) Threat of entrants, power of buyers, power of suppliers, threat of substitutes, competitive

rivalry

b) Threat of buyers, power of entry, power of substitutes, threat of suppliers, threat of recession

c) Threat of recession power of buyers, power of suppliers, threat of management failure,

competitive rivalry

d) Threat of entry, power of buyers, power of suppliers, threat of substitutes, government

action

20) __________ makes provision for licensing and registration for guided growth of
industries

a) MRTP

b) FEMA

c) IDRA

d) SEBI

21) which committee set up to review the industrial development and regulation act

a) mahalorobis committee

b)hazari committee

c) competition act

d)monopolies inquiry committee

22) mahalorobis committee was for

a)set up the legislation

b)distribution of income and levels of living

c)command and control

 23) unfair trade practice covered

a) Competition Act, 2002.

b) Indian Contract Act, 1872.

c) MRTP Act, 1969.

24) Relatively more autonomy for the CCI:

a) Competition Act, 2002.

b) Indian Contract Act, 1872.

c) MRTP Act, 1969.

25) Is it true that one of the objectives of Competition Act, 2002 is To protect the interests of
organizations?

a) No

b) Yes

26) The objectives of competition act, 2002:

a) Anti-competition agreements.

b) To ensure freedom of trade for all participants in the markets in India.

c) To promote and sustain competition in markets.

27) 14 per se offences negating the principles of natural justice:

a) Competition Act, 2002.

b) Indian Contract Act, 1872

c) MRTP Act, 1969

 28) The following are components of MRTP Act, 1969:

a) Abuse of Dominance

b) Combinations Regulation

c) Competition Advocacy

d) None

29) Why MRTP Act, 1969 was replaced?

a) Business cartel forced

b) Ineffective

c) Promoting monopoly