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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
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 2
Extent of market mainly depends upon.
Question # 3
The market of cars is.
Question # 4
How many kinds of market?
Question # 5
In case of monopoly
Question # 6
A monopoly market can be controlled by.
Question # 7
When marginal revenue is zero, total revenue is
Question # 8
A short period market is the market of.
Question # 9
Common market of SAARC countries will be called:
Question # 10
The supply curve of day to day market is.
Question # 11
In the business world
Question # 12
The kind of market is undesirable
Question # 13
How many types of markets according to location
Question # 14
A firm under perfect competition is
Question # 15
Which of the following is NOTa characteristic of perfect competition?
Question # 16
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
Question # 17
Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called
Question # 18
Marginal revenue is always less than price at all levels of output in
Question # 19
Which of the following is one of the assumptions of perfect competition.
Question # 20
Under perfect competition MR and AR curves
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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A Adil 04 - Jan - 2018 00 Min 02 Sec 18/20 -
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 | Extent of market mainly depends upon. |
A. Availability of means of transport and communication
B. Nature of supply
C. Government restriction
D. Perishable goods
|
| 2 | 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
|
| 3 | A monopoly market can be controlled by. |
A. Fixing of the price by the government
B. Administrative measures
C. Introduction of substitutes
D. Nationalisation
|
| 4 | A firm under perfect competition is |
A. price maker
B. price breaker
C. price taker
D. price shaker
|
| 5 | The extent of market depends upon |
A. Means of transport and communication
B. Political instability
C. Economics instability
D. Trade restriction
|
| 6 | How many kinds of market? |
A. 4
B. 5
C. 6
D. 7
|
| 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 | A short period market is the market of. |
A. Perishable goods
B. Durable goods
C. Consumer goods
D. Capital goods
|
| 9 | Which of the following markets comes closest to perfect market |
A. wheat market
B. cigarette market
C. cold drinks market
D. stock market
|
| 10 | Product differentiation is a pre-condition of: |
A. Perfect competition
B. Imperfect compitition
C. Monopoly
D. Oligopoly
|
Test Questions