11th class Economics chapter 12 online mcq test with answers for ICS part 1 Economics chapter 12 (Market and Revenue Analysis)

Top Scorers Of Chapter 12 "Economics Ics Part 1 English Medium Chapter 12 Online Test" MCQ`s Test

Sr.#	Question	Answer
1	The concept of perfect competition was introduced by.	A. Adam Smith B. Alfred Marshall C. Keynes D. Malthus
2	A group of buyers and sellers that exchange a goods or services at a price are called	A. Market B. Commodity C. Place D. None of these
3	Which of the following is one of the assumptions of perfect competition.	A. few buyers and few sellers B. many buyers and few sellers C. many buyers and many sellers D. all sellers and buyers are honest
4	The market of refrigerators in general is called:	A. Domestic market B. Local market C. International market D. National market
5	Extent of market mainly depends upon.	A. Availability of means of transport and communication B. Nature of supply C. Government restriction D. Perishable goods
6	A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called	A. Market B. Revenue curve C. Contact D. None of these
7	Under perfect competition MR and AR curves	A. are the same B. are different C. intersect each other D. are parallel
8	The market of cars is.	A. International market B. Regional market C. Local market D. Domestic market
9	The extent of market depends upon	A. Means of transport and communication B. Political instability C. Economics instability D. Trade restriction
10	How many types of markets according to time	A. 3 B. 4 C. 5 D. 6