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

Question # 1

A monopoly market can be controlled by.

Fixing of the price by the government A
Administrative measures B
Introduction of substitutes C
Nationalisation D

Question # 2

A group of buyers and sellers that exchange a goods or services at a price are called

Market A
Commodity B
Place C
None of these D

Question # 3

Marginal revenue is always less than price at all levels of output in

perfect competition A
monopoly B
both A and B C
none of the above D

Question # 4

Extent of market mainly depends upon.

Availability of means of transport and communication A
Nature of supply B
Government restriction C
Perishable goods D

Question # 5

The market of refrigerators in general is called:

Domestic market A
Local market B
International market C
National market D

Question # 6

Different prices are charged from different customers of the same product. This is called.

Short run price A
Price instability B
Price discrimination C
Long run price D

Question # 7

The concept of perfect competition was introduced by.

Adam Smith A
Alfred Marshall B
Keynes C
Malthus D

Question # 8

Buyers and sellers under perfect competition are.

The same in number A
Large in number B
Small in number C
None of the above D

Question # 9

Market is an area where :

Products are sold A
Buyers and sellers come in contact with each other B
Price flactuates C
Price remain constant D

Question # 10

Normal price is a price which prevails

In day to day market A
In domestic market B
In the long run market C
In a foreign market D

Question # 11

The market of cars is.

International market A
Regional market B
Local market C
Domestic market D

Question # 12

A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called

Market A
Revenue curve B
Contact C
None of these D

Question # 13

The kind of market is undesirable

general market A
specialized market B
local market C
monopoly market D

Question # 14

The major difference between perfect competition and monopolistic competition is

unity of frims A
differentiated product B
rate of profit C
free exit and entry D

Question # 15

A short period market is the market of.

Perishable goods A
Durable goods B
Consumer goods C
Capital goods D

Question # 16

Which is NOTtrue

perfect monopoly does not exist in real world A
perfect competition does not exist in real world B
every monopoly is evil C
every firm wants to reduce competition D

Question # 17

In case of monopoly

marginal revenue curve always slopes upward A
total revenue curve always slopes upward B
marginal revenue is always equal to average revenue C
marginal revenue is always less than average revenue D

Question # 18

Which of the following markets comes closest to perfect market

wheat market A
cigarette market B
cold drinks market C
stock market D

Question # 19

Which one of the following is a day to day market.

The market of perishable goods A
The market of refrigerators B
The market of stationary C
None of the three D

Question # 20

Stock exchange is market where we can buy:

Shares A
Foreign exchange B
Factors of production C
Consumer goods D

Sr.#	Question	Answer
1	When marginal revenue is zero, total revenue is	A. maximum B. minimum C. zero D. decreasing
2	A firm under perfect competition is	A. price maker B. price breaker C. price taker D. price shaker
3	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
4	The extent of market depends upon	A. Means of transport and communication B. Political instability C. Economics instability D. Trade restriction
5	A short period market is the market of.	A. Perishable goods B. Durable goods C. Consumer goods D. Capital goods
6	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
7	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
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	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
10	The concept of perfect competition was introduced by.	A. Adam Smith B. Alfred Marshall C. Keynes D. Malthus

Latest Educational News Stories

Pakistan's Largest Database of Colleges and Universities

BS Programs

University Past Papers

University Results

Exam Results 2024

Study Abroad Programs and Opportunities for Pakistani Students

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

ICS Part 1 Economics Chapter 12 Test

ICS Part 1 Economics Chapter Wise Test

MCQ's Test For Chapter 12 "Economics Ics Part 1 English Medium Chapter 12 Online Test"

Economics Ics Part 1 English Medium Chapter 12 Online Test

A monopoly market can be controlled by.

A group of buyers and sellers that exchange a goods or services at a price are called

Marginal revenue is always less than price at all levels of output in

Extent of market mainly depends upon.

The market of refrigerators in general is called:

Different prices are charged from different customers of the same product. This is called.

The concept of perfect competition was introduced by.

Buyers and sellers under perfect competition are.

Market is an area where :

Normal price is a price which prevails

The market of cars is.

A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called

The kind of market is undesirable

The major difference between perfect competition and monopolistic competition is

A short period market is the market of.

Which is NOTtrue

In case of monopoly

Which of the following markets comes closest to perfect market

Which one of the following is a day to day market.

Stock exchange is market where we can buy:

Prepare Complete Set Wise Chapter 12 "Economics Ics Part 1 English Medium Chapter 12 Online Test" MCQs Online With Answers

Set 1

Set 2

Topic Test

ICS Part 1 Economics Chapter 12 MCQs Test

Top Scorers Of Chapter 12 "Economics Ics Part 1 English Medium Chapter 12 Online Test" MCQ`s Test

ICS Part 1 Economics Chapter 12 Important MCQ's

Test Questions

Is this page helpful?