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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 mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
Question # 2
When marginal revenue is zero, total revenue is
Question # 3
Which is NOTtrue
Question # 4
Different kinds of imperfect competition are.
Question # 5
Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called
Question # 6
Common market of SAARC countries will be called:
Question # 7
In case of perfect competition in the market
Question # 8
How many kinds of market?
Question # 9
A monopolist is always interested and obtains.
Question # 10
The major difference between perfect competition and monopolistic competition is
Question # 11
Which of the following is NOTa characteristic of perfect competition?
Question # 12
Different prices are charged from different customers of the same product. This is called.
Question # 13
How many types of markets according to time
Question # 14
The supply curve of day to day market is.
Question # 15
How many types of markets according to location
Question # 16
Marginal revenue is always less than price at all levels of output in
Question # 17
The extent of market depends upon
Question # 18
In the business world
Question # 19
The market of cars is.
Question # 20
Which of the following is one of the assumptions 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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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 -
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M Maheen 20 - Feb - 2021 04 Min 30 Sec 19/20 -
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A Adil 04 - Jan - 2018 00 Min 02 Sec 18/20 -
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M M.Attiq-U-Rehman 25 - Nov - 2023 03 Min 32 Sec 17/20 -
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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 | Malaysia enjoys monopoly on rubber, but which kind of monopoluit is. |
A. Natural monopoly
B. Social monopoly
C. Legal monopoly
D. Implied monopoly
|
| 2 | Different kinds of imperfect competition are. |
A. Monopoly
B. Monopolistic competition
C. Oligopoly
D. All the three
|
| 3 | 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
|
| 4 | The concept of perfect competition was introduced by. |
A. Adam Smith
B. Alfred Marshall
C. Keynes
D. Malthus
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| 5 | A monopoly market can be controlled by. |
A. Fixing of the price by the government
B. Administrative measures
C. Introduction of substitutes
D. Nationalisation
|
| 6 | 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
|
| 7 | Common market of SAARC countries will be called: |
A. International market
B. National market
C. Regional market
D. None of the three
|
| 8 | How many types of markets according to location |
A. 4
B. 5
C. 6
D. 7
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| 9 | A firm under perfect competition is |
A. price maker
B. price breaker
C. price taker
D. price shaker
|
| 10 | Which is a condition for existence of monopoly |
A. big size
B. identical product
C. absence of government taxes
D. no close substitute
|
Test Questions
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