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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 is NOTtrue
Question # 2
Different prices are charged from different customers of the same product. This is called.
Question # 3
The concept of perfect competition was introduced by.
Question # 4
Which one of the following is a day to day market.
Question # 5
A monopoly market can be controlled by.
Question # 6
Malaysia enjoys monopoly on rubber, but which kind of monopoluit is.
Question # 7
Product differentiation is a pre-condition of:
Question # 8
Which of the following markets comes closest to perfect market
Question # 9
Market is an area where :
Question # 10
The market of refrigerators in general is called:
Question # 11
How many kinds of market?
Question # 12
How many types of markets according to time
Question # 13
How many types of markets according to location
Question # 14
A short period market is the market of.
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
When marginal revenue is zero, total revenue is
Question # 17
The supply curve of day to day market is.
Question # 18
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 19
The extent of market depends upon
Question # 20
Different kinds of imperfect competition are.
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 | Which is a condition for existence of monopoly |
A. big size
B. identical product
C. absence of government taxes
D. no close substitute
|
| 2 | Which is NOTtrue |
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
|
| 3 | Marginal revenue is always less than price at all levels of output in |
A. perfect competition
B. monopoly
C. both A and B
D. none of the above
|
| 4 | How many types of markets according to time |
A. 3
B. 4
C. 5
D. 6
|
| 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
|
| 6 | A monopoly market can be controlled by. |
A. Fixing of the price by the government
B. Administrative measures
C. Introduction of substitutes
D. Nationalisation
|
| 7 | The market of refrigerators in general is called: |
A. Domestic market
B. Local market
C. International market
D. National market
|
| 8 | In case of perfect competition in the market |
A. marginal revenue curve always slopes upward
B. marginal revenue curve always slopes downward
C. marginal revenue is always equal to average revenue
D. marginal revenue is always less than to average revenue
|
| 9 | How many types of markets according to location |
A. 4
B. 5
C. 6
D. 7
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| 10 | A short period market is the market of. |
A. Perishable goods
B. Durable goods
C. Consumer goods
D. Capital goods
|
Test Questions