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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
In case of monopoly
Question # 2
How many kinds of market?
Question # 3
Malaysia enjoys monopoly on rubber, but which kind of monopoluit is.
Question # 4
The major difference between perfect competition and monopolistic competition is
Question # 5
The kind of market is undesirable
Question # 6
Normal price is a price which prevails
Question # 7
Which of the following is NOTa characteristic of perfect competition?
Question # 8
A firm under perfect competition is
Question # 9
Marginal revenue is always less than price at all levels of output in
Question # 10
Which is NOTtrue
Question # 11
Different kinds of imperfect competition are.
Question # 12
Which is a condition for existence of monopoly
Question # 13
Common market of SAARC countries will be called:
Question # 14
When marginal revenue is zero, total revenue is
Question # 15
Product differentiation is a pre-condition of:
Question # 16
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 17
Under perfect competition MR and AR curves
Question # 18
A monopolist is always interested and obtains.
Question # 19
The market of refrigerators in general is called:
Question # 20
Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called
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 -
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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 | 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
|
| 2 | The market of cars is. |
A. International market
B. Regional market
C. Local market
D. Domestic market
|
| 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 | Stock exchange is market where we can buy: |
A. Shares
B. Foreign exchange
C. Factors of production
D. Consumer goods
|
| 5 | 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
|
| 6 | 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
|
| 7 | 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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| 8 | Extent of market mainly depends upon. |
A. Availability of means of transport and communication
B. Nature of supply
C. Government restriction
D. Perishable goods
|
| 9 | A monopolist is always interested and obtains. |
A. Normal profit
B. Subnormal profit
C. Continues production even at loss
D. Super normal profit
|
| 10 | Different kinds of imperfect competition are. |
A. Monopoly
B. Monopolistic competition
C. Oligopoly
D. All the three
|
Test Questions
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