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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
In the business world
Question # 2
In case of perfect competition in the market
Question # 3
Market is an area where :
Question # 4
Buyers and sellers under perfect competition are.
Question # 5
A short period market is the market of.
Question # 6
The market of cars is.
Question # 7
A firm under perfect competition is
Question # 8
When marginal revenue is zero, total revenue is
Question # 9
Product differentiation is a pre-condition of:
Question # 10
Which one of the following is a day to day market.
Question # 11
In case of monopoly
Question # 12
Normal price is a price which prevails
Question # 13
Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called
Question # 14
The major difference between perfect competition and monopolistic competition is
Question # 15
Which is a condition for existence of monopoly
Question # 16
Marginal revenue is always less than price at all levels of output in
Question # 17
Which is NOTtrue
Question # 18
Which of the following is one of the assumptions of perfect competition.
Question # 19
The extent of market depends upon
Question # 20
Under perfect competition MR and AR curves
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 -
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 -
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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 -
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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 | Stock exchange is market where we can buy: |
A. Shares
B. Foreign exchange
C. Factors of production
D. Consumer goods
|
| 2 | 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
|
| 3 | Which one of the following is a day to day market. |
A. The market of perishable goods
B. The market of refrigerators
C. The market of stationary
D. None of the three
|
| 4 | Under perfect competition MR and AR curves |
A. are the same
B. are different
C. intersect each other
D. are parallel
|
| 5 | A monopolist is always interested and obtains. |
A. Normal profit
B. Subnormal profit
C. Continues production even at loss
D. Super normal profit
|
| 6 | The kind of market is undesirable |
A. general market
B. specialized market
C. local market
D. monopoly market
|
| 7 | Which is a condition for existence of monopoly |
A. big size
B. identical product
C. absence of government taxes
D. no close substitute
|
| 8 | When marginal revenue is zero, total revenue is |
A. maximum
B. minimum
C. zero
D. decreasing
|
| 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 | 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
|
Test Questions
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