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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
The major difference between perfect competition and monopolistic competition is
Question # 3
How many kinds of market?
Question # 4
Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called
Question # 5
In the business world
Question # 6
A short period market is the market of.
Question # 7
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
Question # 8
The market of refrigerators in general is called:
Question # 9
Which is NOTtrue
Question # 10
The supply curve of day to day market is.
Question # 11
Extent of market mainly depends upon.
Question # 12
Buyers and sellers under perfect competition are.
Question # 13
The extent of market depends upon
Question # 14
In case of monopoly
Question # 15
Stock exchange is market where we can buy:
Question # 16
Which of the following is one of the assumptions of perfect competition.
Question # 17
How many types of markets according to location
Question # 18
Product differentiation is a pre-condition of:
Question # 19
Common market of SAARC countries will be called:
Question # 20
A monopolist is always interested and obtains.
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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S shrushti 22 - Feb - 2021 02 Min 20 Sec 18/20 -
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H hijab 06 - Oct - 2018 21 Min 10 Sec 18/20 -
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 | 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
|
| 2 | How many types of markets according to time |
A. 3
B. 4
C. 5
D. 6
|
| 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 | 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
|
| 5 | Extent of market mainly depends upon. |
A. Availability of means of transport and communication
B. Nature of supply
C. Government restriction
D. Perishable goods
|
| 6 | Stock exchange is market where we can buy: |
A. Shares
B. Foreign exchange
C. Factors of production
D. Consumer goods
|
| 7 | 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
|
| 8 | When marginal revenue is zero, total revenue is |
A. maximum
B. minimum
C. zero
D. decreasing
|
| 9 | Different kinds of imperfect competition are. |
A. Monopoly
B. Monopolistic competition
C. Oligopoly
D. All the three
|
| 10 | The major difference between perfect competition and monopolistic competition is |
A. unity of frims
B. differentiated product
C. rate of profit
D. free exit and entry
|
Test Questions