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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
Market is an area where :
Question # 2
Which is a condition for existence of monopoly
Question # 3
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 4
Buyers and sellers under perfect competition are.
Question # 5
Which of the following is NOTa characteristic of perfect competition?
Question # 6
The supply curve of day to day market is.
Question # 7
Stock exchange is market where we can buy:
Question # 8
The market of cars is.
Question # 9
The kind of market is undesirable
Question # 10
Normal price is a price which prevails
Question # 11
A firm under perfect competition is
Question # 12
Which one of the following is a day to day market.
Question # 13
In the business world
Question # 14
Which of the following markets comes closest to perfect market
Question # 15
Malaysia enjoys monopoly on rubber, but which kind of monopoluit is.
Question # 16
A short period market is the market of.
Question # 17
The extent of market depends upon
Question # 18
The market of refrigerators in general is called:
Question # 19
A monopolist is always interested and obtains.
Question # 20
Product differentiation is a pre-condition of:
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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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 | The kind of market is undesirable |
A. general market
B. specialized market
C. local market
D. monopoly market
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| 2 | How many kinds of market? |
A. 4
B. 5
C. 6
D. 7
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| 3 | In case of perfect competition in the market |
A. marginal revenue curve always slopes upward
B. marginal revenue curve always slopes downward
C. marginal revenue is always equal to average revenue
D. marginal revenue is always less than to average revenue
|
| 4 | A monopolist is always interested and obtains. |
A. Normal profit
B. Subnormal profit
C. Continues production even at loss
D. Super normal profit
|
| 5 | Which of the following is one of the assumptions of perfect competition. |
A. few buyers and few sellers
B. many buyers and few sellers
C. many buyers and many sellers
D. all sellers and buyers are honest
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| 6 | Common market of SAARC countries will be called: |
A. International market
B. National market
C. Regional market
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 | 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 | In the business world |
A. a firm working under perfect competition wants to become a monopoly
B. a firm working under monopoly wants to become a competitive firm
C. monopoly price is always higher than competitive price
D. competitive price is always higher than monopoly price
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| 10 | The market of cars is. |
A. International market
B. Regional market
C. Local market
D. Domestic market
|
Test Questions
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