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This online test contains MCQs about following topics:
Kind of markets . Perfect and imperfect market . Perfect competition . Monopolu . Revenue curves
MCQ's Test For Chapter 12 "Economics Ics Part 1 English Medium Chapter 12 Online Test"
Try The MCQ's Test For Chapter 12 "Economics Ics Part 1 English Medium Chapter 12 Online Test"
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Total Questions20
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Time Allowed30
Economics Ics Part 1 English Medium Chapter 12 Online Test
00:00
Question # 1
Under perfect competition MR and AR curves
Question # 2
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
Question # 3
Normal price is a price which prevails
Question # 4
A monopolist is always interested and obtains.
Question # 5
Market is an area where :
Question # 6
The supply curve of day to day market is.
Question # 7
Extent of market mainly depends upon.
Question # 8
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 9
Which is a condition for existence of monopoly
Question # 10
Product differentiation is a pre-condition of:
Question # 11
Stock exchange is market where we can buy:
Question # 12
The market of cars is.
Question # 13
Different prices are charged from different customers of the same product. This is called.
Question # 14
Malaysia enjoys monopoly on rubber, but which kind of monopoluit is.
Question # 15
How many kinds of market?
Question # 16
Which of the following is one of the assumptions of perfect competition.
Question # 17
Which of the following markets comes closest to perfect market
Question # 18
In the business world
Question # 19
Buyers and sellers under perfect competition are.
Question # 20
How many types of markets according to time
ICS Part 1 Economics Chapter 12 MCQs Test
Top Scorers Of Chapter 12 "Economics Ics Part 1 English Medium Chapter 12 Online Test" MCQ`s Test
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H Humaira 26 - Jan - 2018 03 Min 06 Sec 20/20 -
H hamza abid 11 - Aug - 2021 10 Min 50 Sec 20/20 -
M Muhammad Bilal 13 - Jan - 2018 03 Min 17 Sec 19/20 -
S Shaista zarin 24 - Jan - 2018 03 Min 46 Sec 19/20 -
M Maheen 20 - Feb - 2021 04 Min 30 Sec 19/20 -
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H hanif 21 - Jan - 2018 03 Min 24 Sec 17/20 -
M M.Attiq-U-Rehman 25 - Nov - 2023 03 Min 32 Sec 17/20 -
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A Ali Hassan 10 - Sep - 2022 08 Min 14 Sec 17/20
ICS Part 1 Economics Chapter 12 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Marginal revenue is always less than price at all levels of output in |
A. perfect competition
B. monopoly
C. both A and B
D. none of the above
|
| 2 | In case of monopoly |
A. marginal revenue curve always slopes upward
B. total revenue curve always slopes upward
C. marginal revenue is always equal to average revenue
D. marginal revenue is always less than average revenue
|
| 3 | How many types of markets according to time |
A. 3
B. 4
C. 5
D. 6
|
| 4 | How many kinds of market? |
A. 4
B. 5
C. 6
D. 7
|
| 5 | Which of the following markets comes closest to perfect market |
A. wheat market
B. cigarette market
C. cold drinks market
D. stock market
|
| 6 | The market of cars is. |
A. International market
B. Regional market
C. Local market
D. Domestic market
|
| 7 | The major difference between perfect competition and monopolistic competition is |
A. unity of frims
B. differentiated product
C. rate of profit
D. free exit and entry
|
| 8 | Which is a condition for existence of monopoly |
A. big size
B. identical product
C. absence of government taxes
D. no close substitute
|
| 9 | When marginal revenue is zero, total revenue is |
A. maximum
B. minimum
C. zero
D. decreasing
|
| 10 | A firm under perfect competition is |
A. price maker
B. price breaker
C. price taker
D. price shaker
|
Test Questions