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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
When marginal revenue is zero, total revenue is
Question # 2
How many kinds of market?
Question # 3
A monopolist is always interested and obtains.
Question # 4
Market is an area where :
Question # 5
How many types of markets according to location
Question # 6
In case of monopoly
Question # 7
The concept of perfect competition was introduced by.
Question # 8
The supply curve of day to day market is.
Question # 9
The market of cars is.
Question # 10
Which of the following is one of the assumptions of perfect competition.
Question # 11
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 12
In case of perfect competition in the market
Question # 13
Extent of market mainly depends upon.
Question # 14
Which is a condition for existence of monopoly
Question # 15
Which of the following is NOTa characteristic of perfect competition?
Question # 16
Marginal revenue is always less than price at all levels of output in
Question # 17
Product differentiation is a pre-condition of:
Question # 18
A monopoly market can be controlled by.
Question # 19
How many types of markets according to time
Question # 20
A firm under perfect competition is
ICS Part 1 Economics Chapter 12 MCQs Test
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ICS Part 1 Economics Chapter 12 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Product differentiation is a pre-condition of: |
A. Perfect competition
B. Imperfect compitition
C. Monopoly
D. Oligopoly
|
| 2 | A monopoly market can be controlled by. |
A. Fixing of the price by the government
B. Administrative measures
C. Introduction of substitutes
D. Nationalisation
|
| 3 | Stock exchange is market where we can buy: |
A. Shares
B. Foreign exchange
C. Factors of production
D. Consumer goods
|
| 4 | Extent of market mainly depends upon. |
A. Availability of means of transport and communication
B. Nature of supply
C. Government restriction
D. Perishable goods
|
| 5 | A firm under perfect competition is |
A. price maker
B. price breaker
C. price taker
D. price shaker
|
| 6 | 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
|
| 7 | How many types of markets according to location |
A. 4
B. 5
C. 6
D. 7
|
| 8 | How many types of markets according to time |
A. 3
B. 4
C. 5
D. 6
|
| 9 | Different prices are charged from different customers of the same product. This is called. |
A. Short run price
B. Price instability
C. Price discrimination
D. Long run price
|
| 10 | The market of refrigerators in general is called: |
A. Domestic market
B. Local market
C. International market
D. National market
|
Test Questions