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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 extent of market depends upon
Question # 2
Which of the following markets comes closest to perfect market
Question # 3
Different kinds of imperfect competition are.
Question # 4
Common market of SAARC countries will be called:
Question # 5
How many kinds of market?
Question # 6
Which is NOTtrue
Question # 7
A firm under perfect competition is
Question # 8
Under perfect competition MR and AR curves
Question # 9
The supply curve of day to day market is.
Question # 10
Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called
Question # 11
Marginal revenue is always less than price at all levels of output in
Question # 12
When marginal revenue is zero, total revenue is
Question # 13
In case of monopoly
Question # 14
How many types of markets according to location
Question # 15
Which of the following is one of the assumptions of perfect competition.
Question # 16
The kind of market is undesirable
Question # 17
Normal price is a price which prevails
Question # 18
A short period market is the market of.
Question # 19
In case of perfect competition in the market
Question # 20
The major difference between perfect competition and monopolistic 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 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 | A short period market is the market of. |
A. Perishable goods
B. Durable goods
C. Consumer goods
D. Capital goods
|
| 2 | How many types of markets according to location |
A. 4
B. 5
C. 6
D. 7
|
| 3 | A group of buyers and sellers that exchange a goods or services at a price are called |
A. Market
B. Commodity
C. Place
D. None of these
|
| 4 | The market of refrigerators in general is called: |
A. Domestic market
B. Local market
C. International market
D. National market
|
| 5 | 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
|
| 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 | How many types of markets according to time |
A. 3
B. 4
C. 5
D. 6
|
| 8 | Which one of the following is a day to day market. |
A. The market of perishable goods
B. The market of refrigerators
C. The market of stationary
D. None of the three
|
| 9 | In the business world |
A. a firm working under perfect competition wants to become a monopoly
B. a firm working under monopoly wants to become a competitive firm
C. monopoly price is always higher than competitive price
D. competitive price is always higher than monopoly price
|
| 10 | Malaysia enjoys monopoly on rubber, but which kind of monopoluit is. |
A. Natural monopoly
B. Social monopoly
C. Legal monopoly
D. Implied monopoly
|
Test Questions
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