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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
Which is NOTtrue
Question # 2
Marginal revenue is always less than price at all levels of output in
Question # 3
How many types of markets according to location
Question # 4
Which of the following is one of the assumptions of perfect competition.
Question # 5
In case of perfect competition in the market
Question # 6
Stock exchange is market where we can buy:
Question # 7
A monopolist is always interested and obtains.
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
The supply curve of day to day market is.
Question # 11
How many types of markets according to time
Question # 12
Extent of market mainly depends upon.
Question # 13
The concept of perfect competition was introduced by.
Question # 14
Market is an area where :
Question # 15
The market of cars is.
Question # 16
A firm under perfect competition is
Question # 17
A monopoly market can be controlled by.
Question # 18
How many kinds of market?
Question # 19
When marginal revenue is zero, total revenue is
Question # 20
Which is a condition for existence of monopoly
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 | 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
|
| 2 | The concept of perfect competition was introduced by. |
A. Adam Smith
B. Alfred Marshall
C. Keynes
D. Malthus
|
| 3 | 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
|
| 4 | 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
|
| 5 | Which of the following markets comes closest to perfect market |
A. wheat market
B. cigarette market
C. cold drinks market
D. stock market
|
| 6 | Extent of market mainly depends upon. |
A. Availability of means of transport and communication
B. Nature of supply
C. Government restriction
D. Perishable goods
|
| 7 | The supply curve of day to day market is. |
A. Touching the horizontal axis
B. Touching the vertical axis
C. Perfactly elastic
D. Perfactly inelastic
|
| 8 | How many kinds of market? |
A. 4
B. 5
C. 6
D. 7
|
| 9 | How many types of markets according to location |
A. 4
B. 5
C. 6
D. 7
|
| 10 | The kind of market is undesirable |
A. general market
B. specialized market
C. local market
D. monopoly market
|
Test Questions