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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
A monopolist is always interested and obtains.
Question # 2
Stock exchange is market where we can buy:
Question # 3
Which of the following is one of the assumptions of perfect competition.
Question # 4
Different prices are charged from different customers of the same product. This is called.
Question # 5
The concept of perfect competition was introduced by.
Question # 6
Which of the following markets comes closest to perfect market
Question # 7
A short period market is the market of.
Question # 8
Marginal revenue is always less than price at all levels of output in
Question # 9
How many types of markets according to location
Question # 10
Buyers and sellers under perfect competition are.
Question # 11
How many kinds of market?
Question # 12
A firm under perfect competition is
Question # 13
Malaysia enjoys monopoly on rubber, but which kind of monopoluit is.
Question # 14
The supply curve of day to day market is.
Question # 15
When marginal revenue is zero, total revenue is
Question # 16
The market of cars is.
Question # 17
Which is NOTtrue
Question # 18
How many types of markets according to time
Question # 19
In the business world
Question # 20
Product differentiation is a pre-condition of:
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 | Product differentiation is a pre-condition of: |
A. Perfect competition
B. Imperfect compitition
C. Monopoly
D. Oligopoly
|
| 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 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
|
| 4 | A short period market is the market of. |
A. Perishable goods
B. Durable goods
C. Consumer goods
D. Capital goods
|
| 5 | 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
|
| 6 | Which of the following is NOTa characteristic of perfect competition? |
A. free entry and exit of the firm
B. demand curve of a firm is horizontal
C. marginal revenue curve is horizontal
D. individual firm can influence the price
|
| 7 | The concept of perfect competition was introduced by. |
A. Adam Smith
B. Alfred Marshall
C. Keynes
D. Malthus
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| 8 | 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
|
| 9 | A monopoly market can be controlled by. |
A. Fixing of the price by the government
B. Administrative measures
C. Introduction of substitutes
D. Nationalisation
|
| 10 | Different prices are charged from different customers of the same product. This is called. |
A. Short run price
B. Price instability
C. Price discrimination
D. Long run price
|
Test Questions