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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
Which of the following markets comes closest to perfect market
Question # 2
Common market of SAARC countries will be called:
Question # 3
Stock exchange is market where we can buy:
Question # 4
The extent of market depends upon
Question # 5
The supply curve of day to day market is.
Question # 6
Which one of the following is a day to day market.
Question # 7
A monopolist is always interested and obtains.
Question # 8
Which is a condition for existence of monopoly
Question # 9
Different kinds of imperfect competition are.
Question # 10
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
Question # 11
The market of refrigerators in general is called:
Question # 12
The market of cars is.
Question # 13
The concept of perfect competition was introduced by.
Question # 14
Under perfect competition MR and AR curves
Question # 15
Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called
Question # 16
The kind of market is undesirable
Question # 17
Malaysia enjoys monopoly on rubber, but which kind of monopoluit is.
Question # 18
Market is an area where :
Question # 19
Which of the following is NOTa characteristic of perfect competition?
Question # 20
Different prices are charged from different customers of the same product. This is called.
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 | The kind of market is undesirable |
A. general market
B. specialized market
C. local market
D. monopoly market
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| 2 | The concept of perfect competition was introduced by. |
A. Adam Smith
B. Alfred Marshall
C. Keynes
D. Malthus
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| 3 | Common market of SAARC countries will be called: |
A. International market
B. National market
C. Regional market
D. None of the three
|
| 4 | Which is a condition for existence of monopoly |
A. big size
B. identical product
C. absence of government taxes
D. no close substitute
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| 5 | In case of monopoly |
A. marginal revenue curve always slopes upward
B. total revenue curve always slopes upward
C. marginal revenue is always equal to average revenue
D. marginal revenue is always less than average revenue
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| 6 | Under perfect competition MR and AR curves |
A. are the same
B. are different
C. intersect each other
D. are parallel
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| 7 | 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
|
| 8 | A firm under perfect competition is |
A. price maker
B. price breaker
C. price taker
D. price shaker
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| 9 | 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
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| 10 | 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
|
Test Questions
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