Home
News
Colleges
Courses
Admission
Lectures
Online Test
Past Papers
Date Sheets
Results
Study Abroad
Jobs
Tutors
More
Apps
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"
-
Total Questions20
-
Time Allowed30
Economics Ics Part 1 English Medium Chapter 12 Online Test
00:00
Question # 1
Market is an area where :
Question # 2
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 3
Malaysia enjoys monopoly on rubber, but which kind of monopoluit is.
Question # 4
The major difference between perfect competition and monopolistic competition is
Question # 5
Stock exchange is market where we can buy:
Question # 6
The supply curve of day to day market is.
Question # 7
Which of the following is NOTa characteristic of perfect competition?
Question # 8
The extent of market depends upon
Question # 9
A firm under perfect competition is
Question # 10
When marginal revenue is zero, total revenue is
Question # 11
Which one of the following is a day to day market.
Question # 12
Which is a condition for existence of monopoly
Question # 13
Different prices are charged from different customers of the same product. This is called.
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
A short period market is the market of.
Question # 17
Normal price is a price which prevails
Question # 18
How many kinds of market?
Question # 19
Which of the following is one of the assumptions of perfect competition.
Question # 20
In the business world
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
-
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 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
|
| 2 | A short period market is the market of. |
A. Perishable goods
B. Durable goods
C. Consumer goods
D. Capital goods
|
| 3 | How many types of markets according to time |
A. 3
B. 4
C. 5
D. 6
|
| 4 | Which of the following markets comes closest to perfect market |
A. wheat market
B. cigarette market
C. cold drinks market
D. stock market
|
| 5 | The concept of perfect competition was introduced by. |
A. Adam Smith
B. Alfred Marshall
C. Keynes
D. Malthus
|
| 6 | How many kinds of market? |
A. 4
B. 5
C. 6
D. 7
|
| 7 | Malaysia enjoys monopoly on rubber, but which kind of monopoluit is. |
A. Natural monopoly
B. Social monopoly
C. Legal monopoly
D. Implied monopoly
|
| 8 | A firm under perfect competition is |
A. price maker
B. price breaker
C. price taker
D. price shaker
|
| 9 | The kind of market is undesirable |
A. general market
B. specialized market
C. local market
D. monopoly market
|
| 10 | When marginal revenue is zero, total revenue is |
A. maximum
B. minimum
C. zero
D. decreasing
|
Test Questions