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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
The concept of perfect competition was introduced by.
Question # 2
Which of the following is one of the assumptions of perfect competition.
Question # 3
Which of the following markets comes closest to perfect market
Question # 4
A firm under perfect competition is
Question # 5
In case of monopoly
Question # 6
A short period market is the market of.
Question # 7
How many types of markets according to time
Question # 8
How many kinds of market?
Question # 9
The market of refrigerators in general is called:
Question # 10
Under perfect competition MR and AR curves
Question # 11
A monopoly market can be controlled by.
Question # 12
Which of the following is NOTa characteristic of perfect competition?
Question # 13
Market is an area where :
Question # 14
The kind of market is undesirable
Question # 15
Extent of market mainly depends upon.
Question # 16
Stock exchange is market where we can buy:
Question # 17
Different kinds of imperfect competition are.
Question # 18
The market of cars is.
Question # 19
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 20
The extent of market depends upon
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 | 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
|
| 2 | Malaysia enjoys monopoly on rubber, but which kind of monopoluit is. |
A. Natural monopoly
B. Social monopoly
C. Legal monopoly
D. Implied monopoly
|
| 3 | When marginal revenue is zero, total revenue is |
A. maximum
B. minimum
C. zero
D. decreasing
|
| 4 | 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
|
| 5 | Which of the following is NOTa characteristic of perfect competition? |
A. free entry and exit of the firm
B. demand curve of a firm is horizontal
C. marginal revenue curve is horizontal
D. individual firm can influence the price
|
| 6 | A monopoly market can be controlled by. |
A. Fixing of the price by the government
B. Administrative measures
C. Introduction of substitutes
D. Nationalisation
|
| 7 | The kind of market is undesirable |
A. general market
B. specialized market
C. local market
D. monopoly market
|
| 8 | Stock exchange is market where we can buy: |
A. Shares
B. Foreign exchange
C. Factors of production
D. Consumer goods
|
| 9 | How many types of markets according to time |
A. 3
B. 4
C. 5
D. 6
|
| 10 | How many kinds of market? |
A. 4
B. 5
C. 6
D. 7
|
Test Questions