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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
A monopoly market can be controlled by.
Question # 2
The market of cars is.
Question # 3
Different kinds of imperfect competition are.
Question # 4
Product differentiation is a pre-condition of:
Question # 5
Different prices are charged from different customers of the same product. This is called.
Question # 6
A short period market is the market of.
Question # 7
In case of monopoly
Question # 8
Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called
Question # 9
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
Question # 10
Which is a condition for existence of monopoly
Question # 11
Common market of SAARC countries will be called:
Question # 12
How many types of markets according to time
Question # 13
How many kinds of market?
Question # 14
The concept of perfect competition was introduced by.
Question # 15
When marginal revenue is zero, total revenue is
Question # 16
Marginal revenue is always less than price at all levels of output in
Question # 17
Stock exchange is market where we can buy:
Question # 18
The market of refrigerators in general is called:
Question # 19
Buyers and sellers under perfect competition are.
Question # 20
The supply curve of day to day market 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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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 | 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
|
| 2 | Under perfect competition MR and AR curves |
A. are the same
B. are different
C. intersect each other
D. are parallel
|
| 3 | 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
|
| 4 | When marginal revenue is zero, total revenue is |
A. maximum
B. minimum
C. zero
D. decreasing
|
| 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 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
|
| 7 | A firm under perfect competition is |
A. price maker
B. price breaker
C. price taker
D. price shaker
|
| 8 | Buyers and sellers under perfect competition are. |
A. The same in number
B. Large in number
C. Small in number
D. None of the above
|
| 9 | Malaysia enjoys monopoly on rubber, but which kind of monopoluit is. |
A. Natural monopoly
B. Social monopoly
C. Legal monopoly
D. Implied monopoly
|
| 10 | Normal price is a price which prevails |
A. In day to day market
B. In domestic market
C. In the long run market
D. In a foreign market
|
Test Questions
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