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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 firm under perfect competition is
Question # 2
Which of the following markets comes closest to perfect market
Question # 3
The major difference between perfect competition and monopolistic competition is
Question # 4
Stock exchange is market where we can buy:
Question # 5
How many kinds of market?
Question # 6
A monopolist is always interested and obtains.
Question # 7
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
Question # 8
Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called
Question # 9
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 10
Different kinds of imperfect competition are.
Question # 11
Which is a condition for existence of monopoly
Question # 12
How many types of markets according to time
Question # 13
In case of monopoly
Question # 14
Which of the following is NOTa characteristic of perfect competition?
Question # 15
The market of refrigerators in general is called:
Question # 16
Which is NOTtrue
Question # 17
Under perfect competition MR and AR curves
Question # 18
When marginal revenue is zero, total revenue is
Question # 19
Which one of the following is a day to day market.
Question # 20
A short period market is the market 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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E ekta 07 - Aug - 2021 00 Min 51 Sec 20/20 -
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 -
S Shaista zarin 24 - Jan - 2018 03 Min 46 Sec 19/20 -
M Maheen 20 - Feb - 2021 04 Min 30 Sec 19/20 -
R romana 24 - Jun - 2021 07 Min 13 Sec 19/20 -
A Adil 04 - Jan - 2018 00 Min 02 Sec 18/20 -
S shrushti 22 - Feb - 2021 02 Min 20 Sec 18/20 -
K Kazim 27 - Dec - 2017 04 Min 39 Sec 18/20 -
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 -
Z zainab nouman 08 - May - 2024 03 Min 52 Sec 17/20 -
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 monopoly |
A. marginal revenue curve always slopes upward
B. total revenue curve always slopes upward
C. marginal revenue is always equal to average revenue
D. marginal revenue is always less than average revenue
|
| 2 | 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
|
| 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 | How many types of markets according to time |
A. 3
B. 4
C. 5
D. 6
|
| 5 | 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
|
| 6 | Extent of market mainly depends upon. |
A. Availability of means of transport and communication
B. Nature of supply
C. Government restriction
D. Perishable goods
|
| 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 | Different kinds of imperfect competition are. |
A. Monopoly
B. Monopolistic competition
C. Oligopoly
D. All the three
|
| 9 | Which is NOTtrue |
A. perfect monopoly does not exist in real world
B. perfect competition does not exist in real world
C. every monopoly is evil
D. every firm wants to reduce competition
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| 10 | Which of the following markets comes closest to perfect market |
A. wheat market
B. cigarette market
C. cold drinks market
D. stock market
|
Test Questions
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