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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 extent of market depends upon
Question # 2
Buyers and sellers under perfect competition are.
Question # 3
A monopoly market can be controlled by.
Question # 4
Which of the following markets comes closest to perfect market
Question # 5
Which is NOTtrue
Question # 6
Marginal revenue is always less than price at all levels of output in
Question # 7
Which is a condition for existence of monopoly
Question # 8
Under perfect competition MR and AR curves
Question # 9
Different prices are charged from different customers of the same product. This is called.
Question # 10
Which of the following is one of the assumptions of perfect competition.
Question # 11
In the business world
Question # 12
Which one of the following is a day to day market.
Question # 13
Different kinds of imperfect competition are.
Question # 14
Common market of SAARC countries will be called:
Question # 15
The major difference between perfect competition and monopolistic competition is
Question # 16
A monopolist is always interested and obtains.
Question # 17
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 18
When marginal revenue is zero, total revenue is
Question # 19
The market of cars is.
Question # 20
Market is an area where :
ICS Part 1 Economics Chapter 12 MCQs Test
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ICS Part 1 Economics Chapter 12 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Extent of market mainly depends upon. |
A. Availability of means of transport and communication
B. Nature of supply
C. Government restriction
D. Perishable goods
|
| 2 | Which of the following markets comes closest to perfect market |
A. wheat market
B. cigarette market
C. cold drinks market
D. stock market
|
| 3 | 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
|
| 4 | Different kinds of imperfect competition are. |
A. Monopoly
B. Monopolistic competition
C. Oligopoly
D. All the three
|
| 5 | A monopolist is always interested and obtains. |
A. Normal profit
B. Subnormal profit
C. Continues production even at loss
D. Super normal profit
|
| 6 | 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
|
| 7 | Buyers and sellers under perfect competition are. |
A. The same in number
B. Large in number
C. Small in number
D. None of the above
|
| 8 | The kind of market is undesirable |
A. general market
B. specialized market
C. local market
D. monopoly market
|
| 9 | 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
|
| 10 | How many types of markets according to location |
A. 4
B. 5
C. 6
D. 7
|
Test Questions