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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
Malaysia enjoys monopoly on rubber, but which kind of monopoluit is.
Question # 2
Which is NOTtrue
Question # 3
How many kinds of market?
Question # 4
Which is a condition for existence of monopoly
Question # 5
A firm under perfect competition is
Question # 6
Which of the following is NOTa characteristic of perfect competition?
Question # 7
How many types of markets according to location
Question # 8
A monopoly market can be controlled by.
Question # 9
The market of cars is.
Question # 10
The concept of perfect competition was introduced by.
Question # 11
The market of refrigerators in general is called:
Question # 12
In the business world
Question # 13
How many types of markets according to time
Question # 14
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 15
In case of perfect competition in the market
Question # 16
A short period market is the market of.
Question # 17
Different kinds of imperfect competition are.
Question # 18
Which of the following markets comes closest to perfect market
Question # 19
Extent of market mainly depends upon.
Question # 20
Market is an area where :
ICS Part 1 Economics Chapter 12 MCQs Test
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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 | In case of perfect competition in the market |
A. marginal revenue curve always slopes upward
B. marginal revenue curve always slopes downward
C. marginal revenue is always equal to average revenue
D. marginal revenue is always less than to average revenue
|
| 3 | The market of cars is. |
A. International market
B. Regional market
C. Local market
D. Domestic market
|
| 4 | A firm under perfect competition is |
A. price maker
B. price breaker
C. price taker
D. price shaker
|
| 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 | Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called |
A. Revenue curve under perfect competition
B. Monopoly curve
C. Total revenue curve
D. None of these
|
| 7 | 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
|
| 8 | The kind of market is undesirable |
A. general market
B. specialized market
C. local market
D. monopoly market
|
| 9 | 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
|
| 10 | Which is NOTtrue |
A. perfect monopoly does not exist in real world
B. perfect competition does not exist in real world
C. every monopoly is evil
D. every firm wants to reduce competition
|
Test Questions
