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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
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
Question # 2
How many types of markets according to time
Question # 3
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 4
The market of refrigerators in general is called:
Question # 5
Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called
Question # 6
How many kinds of market?
Question # 7
In the business world
Question # 8
A short period market is the market of.
Question # 9
Which one of the following is a day to day market.
Question # 10
Different prices are charged from different customers of the same product. This is called.
Question # 11
A firm under perfect competition is
Question # 12
Marginal revenue is always less than price at all levels of output in
Question # 13
In case of monopoly
Question # 14
Which is a condition for existence of monopoly
Question # 15
Buyers and sellers under perfect competition are.
Question # 16
Common market of SAARC countries will be called:
Question # 17
The kind of market is undesirable
Question # 18
Which of the following markets comes closest to perfect market
Question # 19
The supply curve of day to day market is.
Question # 20
Which of the following is NOTa characteristic of perfect competition?
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 | 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
|
| 2 | A monopolist is always interested and obtains. |
A. Normal profit
B. Subnormal profit
C. Continues production even at loss
D. Super normal profit
|
| 3 | 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
|
| 4 | A monopoly market can be controlled by. |
A. Fixing of the price by the government
B. Administrative measures
C. Introduction of substitutes
D. Nationalisation
|
| 5 | Under perfect competition MR and AR curves |
A. are the same
B. are different
C. intersect each other
D. are parallel
|
| 6 | When marginal revenue is zero, total revenue is |
A. maximum
B. minimum
C. zero
D. decreasing
|
| 7 | How many kinds of market? |
A. 4
B. 5
C. 6
D. 7
|
| 8 | The concept of perfect competition was introduced by. |
A. Adam Smith
B. Alfred Marshall
C. Keynes
D. Malthus
|
| 9 | Malaysia enjoys monopoly on rubber, but which kind of monopoluit is. |
A. Natural monopoly
B. Social monopoly
C. Legal monopoly
D. Implied monopoly
|
| 10 | A short period market is the market of. |
A. Perishable goods
B. Durable goods
C. Consumer goods
D. Capital goods
|
Test Questions