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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
The kind of market is undesirable
Question # 3
The market of refrigerators in general is called:
Question # 4
Normal price is a price which prevails
Question # 5
Extent of market mainly depends upon.
Question # 6
How many types of markets according to time
Question # 7
Different prices are charged from different customers of the same product. This is called.
Question # 8
Which of the following is NOTa characteristic of perfect competition?
Question # 9
Which is NOTtrue
Question # 10
The concept of perfect competition was introduced by.
Question # 11
Which of the following markets comes closest to perfect market
Question # 12
The market of cars is.
Question # 13
When marginal revenue is zero, total revenue is
Question # 14
How many types of markets according to location
Question # 15
The extent of market depends upon
Question # 16
How many kinds of market?
Question # 17
Market is an area where :
Question # 18
In the business world
Question # 19
Which of the following is one of the assumptions of perfect competition.
Question # 20
The major difference between perfect competition and monopolistic competition is
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 | 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
|
| 2 | 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
|
| 3 | Product differentiation is a pre-condition of: |
A. Perfect competition
B. Imperfect compitition
C. Monopoly
D. Oligopoly
|
| 4 | The concept of perfect competition was introduced by. |
A. Adam Smith
B. Alfred Marshall
C. Keynes
D. Malthus
|
| 5 | Stock exchange is market where we can buy: |
A. Shares
B. Foreign exchange
C. Factors of production
D. Consumer goods
|
| 6 | 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
|
| 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 | The market of cars is. |
A. International market
B. Regional market
C. Local market
D. Domestic market
|
| 9 | How many kinds of market? |
A. 4
B. 5
C. 6
D. 7
|
| 10 | Which of the following markets comes closest to perfect market |
A. wheat market
B. cigarette market
C. cold drinks market
D. stock market
|
Test Questions