×
12th Chapter

ICS Part 1 Economics Chapter 12 MCQs Test

First Year Economics Chapter 12 Online MCQ Test for 1st Year Economics Chapter 12 (Market and Revenue Analysis)

This online test contains MCQs about following topics:

Kind of markets . Perfect and imperfect market . Perfect competition . Monopolu . Revenue curves

First Year Economics Chapter 12 Online MCQ Test for 1st Year Economics Chapter 12 (Market and Revenue Analysis)

Sr. # Questions Answers Choice
1 The kind of market is undesirable
  • A. general market
  • B. specialized market
  • C. local market
  • D. monopoly market
2 How many kinds of market?
  • A. 4
  • B. 5
  • C. 6
  • D. 7
3 Which of the following markets comes closest to perfect market
  • A. wheat market
  • B. cigarette market
  • C. cold drinks market
  • D. stock market
4 The concept of perfect competition was introduced by.
  • A. Adam Smith
  • B. Alfred Marshall
  • C. Keynes
  • D. Malthus
5 When marginal revenue is zero, total revenue is
  • A. maximum
  • B. minimum
  • C. zero
  • D. decreasing
6 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
7 Normal price is a price which prevails
  • A. In day to day market
  • B. In domestic market
  • C. In the long run market
  • D. In a foreign market
8 Which is <i>NOT</i>true
  • 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
9 Product differentiation is a pre-condition of:
  • A. Perfect competition
  • B. Imperfect compitition
  • C. Monopoly
  • D. Oligopoly
10 Which one of the following is a day to day market.
  • A. The market of perishable goods
  • B. The market of refrigerators
  • C. The market of stationary
  • D. None of the three

Top Scorers of Economics Ics Part 1 English Medium Chapter 12 Online Test

Z

Zainab Nouman

Lahore08 - May - 2024

17/20
03 Mins 52 Sec
Z

Zainab Nouman

Lahore08 - May - 2024

17/20
04 Mins 29 Sec

Share your comments questions here
Sort By:
X

Sign in

to continue to ilmkidunya.com

inquiry-image

Free Admission Advice

Fill the form. Our admission consultants will call you with admission options.

X

Sign in

to continue to ilmkidunya.com

X

Sign in

to continue to ilmkidunya.com

X

Forgot Password

to continue to ilmkidunya.com

X

Register Type

Please Provide following information to Register

  • Student
  • Tutor
  • Consultant
  • Employer