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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
In the business world
Question # 3
Which of the following markets comes closest to perfect market
Question # 4
A short period market is the market of.
Question # 5
Normal price is a price which prevails
Question # 6
In case of monopoly
Question # 7
Product differentiation is a pre-condition of:
Question # 8
The kind of market is undesirable
Question # 9
Different prices are charged from different customers of the same product. This is called.
Question # 10
A firm under perfect competition is
Question # 11
Which of the following is one of the assumptions of perfect competition.
Question # 12
A monopolist is always interested and obtains.
Question # 13
Different kinds of imperfect competition are.
Question # 14
Which one of the following is a day to day market.
Question # 15
When marginal revenue is zero, total revenue is
Question # 16
Common market of SAARC countries will be called:
Question # 17
Extent of market mainly depends upon.
Question # 18
The market of cars is.
Question # 19
The concept of perfect competition was introduced by.
Question # 20
Which of the following is NOTa characteristic 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 -
S Shaista zarin 24 - Jan - 2018 03 Min 46 Sec 19/20 -
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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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 | Which of the following is NOTa characteristic of perfect competition? |
A. free entry and exit of the firm
B. demand curve of a firm is horizontal
C. marginal revenue curve is horizontal
D. individual firm can influence the price
|
| 2 | 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
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| 3 | Extent of market mainly depends upon. |
A. Availability of means of transport and communication
B. Nature of supply
C. Government restriction
D. Perishable goods
|
| 4 | 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
|
| 5 | A firm under perfect competition is |
A. price maker
B. price breaker
C. price taker
D. price shaker
|
| 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 | 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
|
| 8 | 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
|
| 9 | How many types of markets according to time |
A. 3
B. 4
C. 5
D. 6
|
| 10 | The market of refrigerators in general is called: |
A. Domestic market
B. Local market
C. International market
D. National market
|
Test Questions
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