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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
Stock exchange is market where we can buy:
Question # 2
Which is a condition for existence of monopoly
Question # 3
The kind of market is undesirable
Question # 4
The major difference between perfect competition and monopolistic competition is
Question # 5
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
Question # 6
How many types of markets according to time
Question # 7
In the business world
Question # 8
Malaysia enjoys monopoly on rubber, but which kind of monopoluit is.
Question # 9
How many kinds of market?
Question # 10
Common market of SAARC countries will be called:
Question # 11
Normal price is a price which prevails
Question # 12
In case of monopoly
Question # 13
The market of cars is.
Question # 14
Which of the following is one of the assumptions of perfect competition.
Question # 15
Which of the following is NOTa characteristic of perfect competition?
Question # 16
Buyers and sellers under perfect competition are.
Question # 17
The extent of market depends upon
Question # 18
Which one of the following is a day to day market.
Question # 19
A short period market is the market of.
Question # 20
Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called
ICS Part 1 Economics Chapter 12 MCQs 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 kinds of market? |
A. 4
B. 5
C. 6
D. 7
|
| 2 | How many types of markets according to location |
A. 4
B. 5
C. 6
D. 7
|
| 3 | The market of refrigerators in general is called: |
A. Domestic market
B. Local market
C. International market
D. National market
|
| 4 | Different kinds of imperfect competition are. |
A. Monopoly
B. Monopolistic competition
C. Oligopoly
D. All the three
|
| 5 | A group of buyers and sellers that exchange a goods or services at a price are called |
A. Market
B. Commodity
C. Place
D. None of these
|
| 6 | A monopolist is always interested and obtains. |
A. Normal profit
B. Subnormal profit
C. Continues production even at loss
D. Super normal profit
|
| 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 | The market of cars is. |
A. International market
B. Regional market
C. Local market
D. Domestic market
|
| 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 | 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
|
Test Questions