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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 of the following markets comes closest to perfect market
Question # 2
Buyers and sellers under perfect competition are.
Question # 3
Under perfect competition MR and AR curves
Question # 4
Which of the following is NOTa characteristic of perfect competition?
Question # 5
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
Question # 6
The market of refrigerators in general is called:
Question # 7
Which one of the following is a day to day market.
Question # 8
Common market of SAARC countries will be called:
Question # 9
The extent of market depends upon
Question # 10
When marginal revenue is zero, total revenue is
Question # 11
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 12
A short period market is the market of.
Question # 13
The major difference between perfect competition and monopolistic competition is
Question # 14
A monopolist is always interested and obtains.
Question # 15
Extent of market mainly depends upon.
Question # 16
In case of monopoly
Question # 17
Which of the following is one of the assumptions of perfect competition.
Question # 18
In the business world
Question # 19
Market is an area where :
Question # 20
Marginal revenue is always less than price at all levels of output in
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 | 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
|
| 2 | 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
|
| 3 | Stock exchange is market where we can buy: |
A. Shares
B. Foreign exchange
C. Factors of production
D. Consumer goods
|
| 4 | 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
|
| 5 | A monopoly market can be controlled by. |
A. Fixing of the price by the government
B. Administrative measures
C. Introduction of substitutes
D. Nationalisation
|
| 6 | A monopolist is always interested and obtains. |
A. Normal profit
B. Subnormal profit
C. Continues production even at loss
D. Super normal profit
|
| 7 | A short period market is the market of. |
A. Perishable goods
B. Durable goods
C. Consumer goods
D. Capital goods
|
| 8 | Common market of SAARC countries will be called: |
A. International market
B. National market
C. Regional market
D. None of the three
|
| 9 | How many kinds of market? |
A. 4
B. 5
C. 6
D. 7
|
| 10 | Buyers and sellers under perfect competition are. |
A. The same in number
B. Large in number
C. Small in number
D. None of the above
|
Test Questions
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