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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 major difference between perfect competition and monopolistic competition is
Question # 2
Different prices are charged from different customers of the same product. This is called.
Question # 3
Which one of the following is a day to day market.
Question # 4
Marginal revenue is always less than price at all levels of output in
Question # 5
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 6
How many kinds of market?
Question # 7
Which of the following is one of the assumptions of perfect competition.
Question # 8
A firm under perfect competition is
Question # 9
In case of monopoly
Question # 10
How many types of markets according to time
Question # 11
The extent of market depends upon
Question # 12
Normal price is a price which prevails
Question # 13
Common market of SAARC countries will be called:
Question # 14
Which is a condition for existence of monopoly
Question # 15
Which of the following is NOTa characteristic of perfect competition?
Question # 16
Product differentiation is a pre-condition of:
Question # 17
The supply curve of day to day market is.
Question # 18
When marginal revenue is zero, total revenue is
Question # 19
A short period market is the market of.
Question # 20
A monopolist is always interested and obtains.
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 | A monopolist is always interested and obtains. |
A. Normal profit
B. Subnormal profit
C. Continues production even at loss
D. Super normal profit
|
| 2 | A firm under perfect competition is |
A. price maker
B. price breaker
C. price taker
D. price shaker
|
| 3 | Marginal revenue is always less than price at all levels of output in |
A. perfect competition
B. monopoly
C. both A and B
D. none of the above
|
| 4 | The concept of perfect competition was introduced by. |
A. Adam Smith
B. Alfred Marshall
C. Keynes
D. Malthus
|
| 5 | Malaysia enjoys monopoly on rubber, but which kind of monopoluit is. |
A. Natural monopoly
B. Social monopoly
C. Legal monopoly
D. Implied monopoly
|
| 6 | Market is an area where : |
A. Products are sold
B. Buyers and sellers come in contact with each other
C. Price flactuates
D. Price remain constant
|
| 7 | Different kinds of imperfect competition are. |
A. Monopoly
B. Monopolistic competition
C. Oligopoly
D. All the three
|
| 8 | The extent of market depends upon |
A. Means of transport and communication
B. Political instability
C. Economics instability
D. Trade restriction
|
| 9 | A monopoly market can be controlled by. |
A. Fixing of the price by the government
B. Administrative measures
C. Introduction of substitutes
D. Nationalisation
|
| 10 | The market of cars is. |
A. International market
B. Regional market
C. Local market
D. Domestic market
|
Test Questions
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