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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
Different kinds of imperfect competition are.
Question # 2
Which of the following is one of the assumptions of perfect competition.
Question # 3
In case of monopoly
Question # 4
A monopolist is always interested and obtains.
Question # 5
The extent of market depends upon
Question # 6
When marginal revenue is zero, total revenue is
Question # 7
How many types of markets according to time
Question # 8
How many types of markets according to location
Question # 9
Under perfect competition MR and AR curves
Question # 10
In the business world
Question # 11
Market is an area where :
Question # 12
Different prices are charged from different customers of the same product. This is called.
Question # 13
Which one of the following is a day to day market.
Question # 14
The concept of perfect competition was introduced by.
Question # 15
Which of the following is NOTa characteristic of perfect competition?
Question # 16
Which is NOTtrue
Question # 17
A firm under perfect competition is
Question # 18
Which of the following markets comes closest to perfect market
Question # 19
Buyers and sellers under perfect competition are.
Question # 20
Stock exchange is market where we can buy:
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
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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 | The major difference between perfect competition and monopolistic competition is |
A. unity of frims
B. differentiated product
C. rate of profit
D. free exit and entry
|
| 2 | How many types of markets according to location |
A. 4
B. 5
C. 6
D. 7
|
| 3 | Which is a condition for existence of monopoly |
A. big size
B. identical product
C. absence of government taxes
D. no close substitute
|
| 4 | 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
|
| 5 | The concept of perfect competition was introduced by. |
A. Adam Smith
B. Alfred Marshall
C. Keynes
D. Malthus
|
| 6 | How many kinds of market? |
A. 4
B. 5
C. 6
D. 7
|
| 7 | 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
|
| 8 | Common market of SAARC countries will be called: |
A. International market
B. National market
C. Regional market
D. None of the three
|
| 9 | The market of cars is. |
A. International market
B. Regional market
C. Local market
D. Domestic market
|
| 10 | Under perfect competition MR and AR curves |
A. are the same
B. are different
C. intersect each other
D. are parallel
|
Test Questions