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12th Chapter

ICS Part 1 Economics Chapter 12 MCQs Test

First Year Economics Chapter 12 Online MCQ Test for 1st Year Economics Chapter 12 (Market and Revenue Analysis)

This online test contains MCQs about following topics:

Kind of markets . Perfect and imperfect market . Perfect competition . Monopolu . Revenue curves

First Year Economics Chapter 12 Online MCQ Test for 1st Year Economics Chapter 12 (Market and Revenue Analysis)

Sr. # Questions Answers Choice
1 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
2 Common market of SAARC countries will be called:
  • A. International market
  • B. National market
  • C. Regional market
  • D. None of the three
3 The kind of market is undesirable
  • A. general market
  • B. specialized market
  • C. local market
  • D. monopoly market
4 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
5 Market is an area where :
  • A. Products are sold
  • B. Buyers and sellers come in contact with each other
  • C. Price flactuates
  • D. Price remain constant
6 The extent of market depends upon
  • A. Means of transport and communication
  • B. Political instability
  • C. Economics instability
  • D. Trade restriction
7 A monopoly market can be controlled by.
  • A. Fixing of the price by the government
  • B. Administrative measures
  • C. Introduction of substitutes
  • D. Nationalisation
8 Normal price is a price which prevails
  • A. In day to day market
  • B. In domestic market
  • C. In the long run market
  • D. In a foreign market
9 A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
  • A. Market
  • B. Revenue curve
  • C. Contact
  • D. None of these
10 Product differentiation is a pre-condition of:
  • A. Perfect competition
  • B. Imperfect compitition
  • C. Monopoly
  • D. Oligopoly

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