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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
How many kinds of market?
Question # 2
Buyers and sellers under perfect competition are.
Question # 3
In case of monopoly
Question # 4
In the business world
Question # 5
In case of perfect competition in the market
Question # 6
The market of refrigerators in general is called:
Question # 7
How many types of markets according to time
Question # 8
The extent of market depends upon
Question # 9
Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called
Question # 10
A monopolist is always interested and obtains.
Question # 11
The supply curve of day to day market is.
Question # 12
Malaysia enjoys monopoly on rubber, but which kind of monopoluit is.
Question # 13
A firm under perfect competition is
Question # 14
When marginal revenue is zero, total revenue is
Question # 15
Market is an area where :
Question # 16
Product differentiation is a pre-condition of:
Question # 17
Which one of the following is a day to day market.
Question # 18
Which is NOTtrue
Question # 19
Which of the following markets comes closest to perfect market
Question # 20
Extent of market mainly depends upon.
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 -
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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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ICS Part 1 Economics Chapter 12 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | Stock exchange is market where we can buy: |
A. Shares
B. Foreign exchange
C. Factors of production
D. Consumer goods
|
| 3 | A firm under perfect competition is |
A. price maker
B. price breaker
C. price taker
D. price shaker
|
| 4 | The supply curve of day to day market is. |
A. Touching the horizontal axis
B. Touching the vertical axis
C. Perfactly elastic
D. Perfactly inelastic
|
| 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 | The kind of market is undesirable |
A. general market
B. specialized market
C. local market
D. monopoly market
|
| 7 | The extent of market depends upon |
A. Means of transport and communication
B. Political instability
C. Economics instability
D. Trade restriction
|
| 8 | The concept of perfect competition was introduced by. |
A. Adam Smith
B. Alfred Marshall
C. Keynes
D. Malthus
|
| 9 | 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
|
| 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