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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
Under perfect competition MR and AR curves
Question # 2
Which of the following is one of the assumptions of perfect competition.
Question # 3
Which one of the following is a day to day market.
Question # 4
In case of perfect competition in the market
Question # 5
In the business world
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 concept of perfect competition was introduced by.
Question # 8
How many types of markets according to location
Question # 9
How many kinds of market?
Question # 10
Malaysia enjoys monopoly on rubber, but which kind of monopoluit is.
Question # 11
Marginal revenue is always less than price at all levels of output in
Question # 12
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
Question # 13
In case of monopoly
Question # 14
Different kinds of imperfect competition are.
Question # 15
Product differentiation is a pre-condition of:
Question # 16
Extent of market mainly depends upon.
Question # 17
A monopoly market can be controlled by.
Question # 18
The market of refrigerators in general is called:
Question # 19
Normal price is a price which prevails
Question # 20
Which of the following is NOTa characteristic of perfect competition?
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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E ekta 07 - Aug - 2021 00 Min 51 Sec 20/20 -
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 -
S Shaista zarin 24 - Jan - 2018 03 Min 46 Sec 19/20 -
M Maheen 20 - Feb - 2021 04 Min 30 Sec 19/20 -
R romana 24 - Jun - 2021 07 Min 13 Sec 19/20 -
A Adil 04 - Jan - 2018 00 Min 02 Sec 18/20 -
S shrushti 22 - Feb - 2021 02 Min 20 Sec 18/20 -
K Kazim 27 - Dec - 2017 04 Min 39 Sec 18/20 -
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 -
Z zainab nouman 08 - May - 2024 03 Min 52 Sec 17/20 -
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 | When marginal revenue is zero, total revenue is |
A. maximum
B. minimum
C. zero
D. decreasing
|
| 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 | The market of cars is. |
A. International market
B. Regional market
C. Local market
D. Domestic market
|
| 4 | How many kinds of market? |
A. 4
B. 5
C. 6
D. 7
|
| 5 | Extent of market mainly depends upon. |
A. Availability of means of transport and communication
B. Nature of supply
C. Government restriction
D. Perishable goods
|
| 6 | The kind of market is undesirable |
A. general market
B. specialized market
C. local market
D. monopoly market
|
| 7 | The extent of market depends upon |
A. Means of transport and communication
B. Political instability
C. Economics instability
D. Trade restriction
|
| 8 | The concept of perfect competition was introduced by. |
A. Adam Smith
B. Alfred Marshall
C. Keynes
D. Malthus
|
| 9 | 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
|
| 10 | How many types of markets according to time |
A. 3
B. 4
C. 5
D. 6
|
Test Questions
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