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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
Product differentiation is a pre-condition of:
Question # 2
The major difference between perfect competition and monopolistic competition is
Question # 3
Different prices are charged from different customers of the same product. This is called.
Question # 4
Which of the following markets comes closest to perfect market
Question # 5
Buyers and sellers under perfect competition are.
Question # 6
Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called
Question # 7
The market of cars is.
Question # 8
Which of the following is NOTa characteristic of perfect competition?
Question # 9
Which is a condition for existence of monopoly
Question # 10
How many types of markets according to location
Question # 11
The extent of market depends upon
Question # 12
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
Question # 13
In the business world
Question # 14
A monopoly market can be controlled by.
Question # 15
Different kinds of imperfect competition are.
Question # 16
Market is an area where :
Question # 17
Which is NOTtrue
Question # 18
Normal price is a price which prevails
Question # 19
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 20
A firm under perfect competition is
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 Humaira 26 - Jan - 2018 03 Min 06 Sec 20/20 -
H hamza abid 11 - Aug - 2021 10 Min 50 Sec 20/20 -
M Muhammad Bilal 13 - Jan - 2018 03 Min 17 Sec 19/20 -
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M Maheen 20 - Feb - 2021 04 Min 30 Sec 19/20 -
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A Adil 04 - Jan - 2018 00 Min 02 Sec 18/20 -
S shrushti 22 - Feb - 2021 02 Min 20 Sec 18/20 -
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H hijab 06 - Oct - 2018 21 Min 10 Sec 18/20 -
H hanif 21 - Jan - 2018 03 Min 24 Sec 17/20 -
M M.Attiq-U-Rehman 25 - Nov - 2023 03 Min 32 Sec 17/20 -
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A Ali Hassan 10 - Sep - 2022 08 Min 14 Sec 17/20
ICS Part 1 Economics Chapter 12 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | The extent of market depends upon |
A. Means of transport and communication
B. Political instability
C. Economics instability
D. Trade restriction
|
| 2 | Extent of market mainly depends upon. |
A. Availability of means of transport and communication
B. Nature of supply
C. Government restriction
D. Perishable goods
|
| 3 | The concept of perfect competition was introduced by. |
A. Adam Smith
B. Alfred Marshall
C. Keynes
D. Malthus
|
| 4 | How many types of markets according to time |
A. 3
B. 4
C. 5
D. 6
|
| 5 | A monopolist is always interested and obtains. |
A. Normal profit
B. Subnormal profit
C. Continues production even at loss
D. Super normal profit
|
| 6 | A firm under perfect competition is |
A. price maker
B. price breaker
C. price taker
D. price shaker
|
| 7 | Which is a condition for existence of monopoly |
A. big size
B. identical product
C. absence of government taxes
D. no close substitute
|
| 8 | 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
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| 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 | How many kinds of market? |
A. 4
B. 5
C. 6
D. 7
|
Test Questions
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