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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 one of the following is a day to day market.
Question # 2
Stock exchange is market where we can buy:
Question # 3
When marginal revenue is zero, total revenue is
Question # 4
The extent of market depends upon
Question # 5
Which of the following is NOTa characteristic of perfect competition?
Question # 6
The market of refrigerators in general is called:
Question # 7
Buyers and sellers under perfect competition are.
Question # 8
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
Question # 9
Marginal revenue is always less than price at all levels of output in
Question # 10
Common market of SAARC countries will be called:
Question # 11
In the business world
Question # 12
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 13
How many types of markets according to time
Question # 14
The major difference between perfect competition and monopolistic competition is
Question # 15
The market of cars is.
Question # 16
Which of the following markets comes closest to perfect market
Question # 17
How many types of markets according to location
Question # 18
Which is a condition for existence of monopoly
Question # 19
Which of the following is one of the assumptions of perfect competition.
Question # 20
Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called
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 | 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
|
| 2 | 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
|
| 3 | 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
|
| 4 | The market of refrigerators in general is called: |
A. Domestic market
B. Local market
C. International market
D. National market
|
| 5 | 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
|
| 6 | The extent of market depends upon |
A. Means of transport and communication
B. Political instability
C. Economics instability
D. Trade restriction
|
| 7 | When marginal revenue is zero, total revenue is |
A. maximum
B. minimum
C. zero
D. decreasing
|
| 8 | 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
|
| 9 | How many types of markets according to time |
A. 3
B. 4
C. 5
D. 6
|
| 10 | The kind of market is undesirable |
A. general market
B. specialized market
C. local market
D. monopoly market
|
Test Questions