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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
Extent of market mainly depends upon.
Question # 2
The major difference between perfect competition and monopolistic competition is
Question # 3
Which is NOTtrue
Question # 4
Product differentiation is a pre-condition of:
Question # 5
How many kinds of market?
Question # 6
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
Question # 7
Marginal revenue is always less than price at all levels of output in
Question # 8
A monopolist is always interested and obtains.
Question # 9
Which of the following is one of the assumptions of perfect competition.
Question # 10
Market is an area where :
Question # 11
How many types of markets according to location
Question # 12
In the business world
Question # 13
Which of the following markets comes closest to perfect market
Question # 14
How many types of markets according to time
Question # 15
The concept of perfect competition was introduced by.
Question # 16
Different kinds of imperfect competition are.
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
The market of refrigerators in general is called:
Question # 19
The market of cars is.
Question # 20
Stock exchange is market where we can buy:
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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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 | 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
|
| 2 | 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
|
| 3 | 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
|
| 4 | Stock exchange is market where we can buy: |
A. Shares
B. Foreign exchange
C. Factors of production
D. Consumer goods
|
| 5 | 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
|
| 6 | 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
|
| 7 | Malaysia enjoys monopoly on rubber, but which kind of monopoluit is. |
A. Natural monopoly
B. Social monopoly
C. Legal monopoly
D. Implied monopoly
|
| 8 | Common market of SAARC countries will be called: |
A. International market
B. National market
C. Regional market
D. None of the three
|
| 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 | When marginal revenue is zero, total revenue is |
A. maximum
B. minimum
C. zero
D. decreasing
|
Test Questions
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