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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
Under perfect competition MR and AR curves
Question # 2
Stock exchange is market where we can buy:
Question # 3
Which is NOTtrue
Question # 4
A monopoly market can be controlled by.
Question # 5
A short period market is the market of.
Question # 6
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
Question # 7
Which of the following is one of the assumptions of perfect competition.
Question # 8
The kind of market is undesirable
Question # 9
Normal price is a price which prevails
Question # 10
Malaysia enjoys monopoly on rubber, but which kind of monopoluit is.
Question # 11
How many types of markets according to location
Question # 12
How many types of markets according to time
Question # 13
How many kinds of market?
Question # 14
In case of perfect competition in the market
Question # 15
The concept of perfect competition was introduced by.
Question # 16
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 17
Buyers and sellers under perfect competition are.
Question # 18
Which is a condition for existence of monopoly
Question # 19
In case of monopoly
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 hamza abid 11 - Aug - 2021 10 Min 50 Sec 20/20 -
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ICS Part 1 Economics Chapter 12 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | How many types of markets according to location |
A. 4
B. 5
C. 6
D. 7
|
| 2 | 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
|
| 3 | Malaysia enjoys monopoly on rubber, but which kind of monopoluit is. |
A. Natural monopoly
B. Social monopoly
C. Legal monopoly
D. Implied monopoly
|
| 4 | Extent of market mainly depends upon. |
A. Availability of means of transport and communication
B. Nature of supply
C. Government restriction
D. Perishable goods
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| 5 | A short period market is the market of. |
A. Perishable goods
B. Durable goods
C. Consumer goods
D. Capital goods
|
| 6 | When marginal revenue is zero, total revenue is |
A. maximum
B. minimum
C. zero
D. decreasing
|
| 7 | 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
|
| 8 | A monopolist is always interested and obtains. |
A. Normal profit
B. Subnormal profit
C. Continues production even at loss
D. Super normal profit
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| 9 | Which of the following markets comes closest to perfect market |
A. wheat market
B. cigarette market
C. cold drinks market
D. stock market
|
| 10 | The market of refrigerators in general is called: |
A. Domestic market
B. Local market
C. International market
D. National market
|
Test Questions