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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
Extent of market mainly depends upon.
Question # 2
The market of cars is.
Question # 3
Which is NOTtrue
Question # 4
Market is an area where :
Question # 5
In the business world
Question # 6
The kind of market is undesirable
Question # 7
Buyers and sellers under perfect competition are.
Question # 8
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
Question # 9
Which of the following is NOTa characteristic of perfect competition?
Question # 10
Which one of the following is a day to day market.
Question # 11
Which of the following is one of the assumptions of perfect competition.
Question # 12
Under perfect competition MR and AR curves
Question # 13
Different kinds of imperfect competition are.
Question # 14
In case of monopoly
Question # 15
In case of perfect competition in the market
Question # 16
Product differentiation is a pre-condition of:
Question # 17
A short period market is the market of.
Question # 18
Which is a condition for existence of monopoly
Question # 19
A firm under perfect competition is
Question # 20
The extent of market depends upon
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 | 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 | 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
|
| 3 | How many kinds of market? |
A. 4
B. 5
C. 6
D. 7
|
| 4 | A monopolist is always interested and obtains. |
A. Normal profit
B. Subnormal profit
C. Continues production even at loss
D. Super normal profit
|
| 5 | Different kinds of imperfect competition are. |
A. Monopoly
B. Monopolistic competition
C. Oligopoly
D. All the three
|
| 6 | How many types of markets according to location |
A. 4
B. 5
C. 6
D. 7
|
| 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 extent of market depends upon |
A. Means of transport and communication
B. Political instability
C. Economics instability
D. Trade restriction
|
| 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 | Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called |
A. Revenue curve under perfect competition
B. Monopoly curve
C. Total revenue curve
D. None of these
|
Test Questions
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