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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
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Question # 1
Malaysia enjoys monopoly on rubber, but which kind of monopoluit is.
Question # 2
When marginal revenue is zero, total revenue is
Question # 3
How many types of markets according to time
Question # 4
Which of the following markets comes closest to perfect market
Question # 5
In the business world
Question # 6
Market is an area where :
Question # 7
In case of monopoly
Question # 8
A firm under perfect competition is
Question # 9
Which is a condition for existence of monopoly
Question # 10
Common market of SAARC countries will be called:
Question # 11
How many types of markets according to location
Question # 12
Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called
Question # 13
Under perfect competition MR and AR curves
Question # 14
Extent of market mainly depends upon.
Question # 15
A monopolist is always interested and obtains.
Question # 16
Which one of the following is a day to day market.
Question # 17
Which of the following is NOTa characteristic of perfect competition?
Question # 18
Different prices are charged from different customers of the same product. This is called.
Question # 19
Product differentiation is a pre-condition of:
Question # 20
The market of refrigerators in general is called:
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 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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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
|
| 3 | Which of the following markets comes closest to perfect market |
A. wheat market
B. cigarette market
C. cold drinks market
D. stock market
|
| 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 | The market of cars is. |
A. International market
B. Regional market
C. Local market
D. Domestic market
|
| 6 | 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
|
| 7 | 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
|
| 8 | 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
|
| 9 | Different kinds of imperfect competition are. |
A. Monopoly
B. Monopolistic competition
C. Oligopoly
D. All the three
|
| 10 | 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
|
Test Questions
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