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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
The major difference between perfect competition and monopolistic competition is
Question # 2
Product differentiation is a pre-condition of:
Question # 3
Which of the following is NOTa characteristic of perfect competition?
Question # 4
In case of perfect competition in the market
Question # 5
A firm under perfect competition is
Question # 6
The supply curve of day to day market is.
Question # 7
A monopolist is always interested and obtains.
Question # 8
Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called
Question # 9
Which of the following markets comes closest to perfect market
Question # 10
A short period market is the market of.
Question # 11
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
Question # 12
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 13
Normal price is a price which prevails
Question # 14
Stock exchange is market where we can buy:
Question # 15
How many types of markets according to time
Question # 16
Malaysia enjoys monopoly on rubber, but which kind of monopoluit is.
Question # 17
The market of refrigerators in general is called:
Question # 18
When marginal revenue is zero, total revenue is
Question # 19
The extent of market depends upon
Question # 20
Marginal revenue is always less than price at all levels of output in
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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E ekta 07 - Aug - 2021 00 Min 51 Sec 20/20 -
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 -
R romana 24 - Jun - 2021 07 Min 13 Sec 19/20 -
A Adil 04 - Jan - 2018 00 Min 02 Sec 18/20 -
S shrushti 22 - Feb - 2021 02 Min 20 Sec 18/20 -
K Kazim 27 - Dec - 2017 04 Min 39 Sec 18/20 -
H hijab 06 - Oct - 2018 21 Min 10 Sec 18/20 -
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 -
Z zainab nouman 08 - May - 2024 03 Min 52 Sec 17/20 -
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 | A monopoly market can be controlled by. |
A. Fixing of the price by the government
B. Administrative measures
C. Introduction of substitutes
D. Nationalisation
|
| 2 | Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called |
A. Revenue curve under perfect competition
B. Monopoly curve
C. Total revenue curve
D. None of these
|
| 3 | Under perfect competition MR and AR curves |
A. are the same
B. are different
C. intersect each other
D. are parallel
|
| 4 | Market is an area where : |
A. Products are sold
B. Buyers and sellers come in contact with each other
C. Price flactuates
D. Price remain constant
|
| 5 | Which is a condition for existence of monopoly |
A. big size
B. identical product
C. absence of government taxes
D. no close substitute
|
| 6 | The extent of market depends upon |
A. Means of transport and communication
B. Political instability
C. Economics instability
D. Trade restriction
|
| 7 | Which is NOTtrue |
A. perfect monopoly does not exist in real world
B. perfect competition does not exist in real world
C. every monopoly is evil
D. every firm wants to reduce competition
|
| 8 | In case of perfect competition in the market |
A. marginal revenue curve always slopes upward
B. marginal revenue curve always slopes downward
C. marginal revenue is always equal to average revenue
D. marginal revenue is always less than to average revenue
|
| 9 | How many types of markets according to time |
A. 3
B. 4
C. 5
D. 6
|
| 10 | Common market of SAARC countries will be called: |
A. International market
B. National market
C. Regional market
D. None of the three
|
Test Questions
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