11th class Economics chapter 12 online mcq test with answers for ICS part 1 Economics chapter 12 (Market and Revenue Analysis)

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Sr.#	Question	Answer
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	How many kinds of market?	A. 4 B. 5 C. 6 D. 7
3	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
4	The market of cars is.	A. International market B. Regional market C. Local market D. Domestic market
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	A short period market is the market of.	A. Perishable goods B. Durable goods C. Consumer goods D. Capital goods
7	When marginal revenue is zero, total revenue is	A. maximum B. minimum C. zero D. decreasing
8	Product differentiation is a pre-condition of:	A. Perfect competition B. Imperfect compitition C. Monopoly D. Oligopoly
9	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
10	A monopolist is always interested and obtains.	A. Normal profit B. Subnormal profit C. Continues production even at loss D. Super normal profit