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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
Different kinds of imperfect competition are.
Question # 2
Normal price is a price which prevails
Question # 3
Which is a condition for existence of monopoly
Question # 4
Under perfect competition MR and AR curves
Question # 5
How many types of markets according to time
Question # 6
In case of monopoly
Question # 7
Which one of the following is a day to day market.
Question # 8
Which is NOTtrue
Question # 9
The market of refrigerators in general is called:
Question # 10
Buyers and sellers under perfect competition are.
Question # 11
Market is an area where :
Question # 12
The kind of market is undesirable
Question # 13
The concept of perfect competition was introduced by.
Question # 14
The extent of market depends upon
Question # 15
Stock exchange is market where we can buy:
Question # 16
The major difference between perfect competition and monopolistic competition is
Question # 17
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 18
Which of the following is one of the assumptions of perfect competition.
Question # 19
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
Question # 20
The supply curve of day to day market is.
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 -
S Shaista zarin 24 - Jan - 2018 03 Min 46 Sec 19/20 -
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 -
K Kazim 27 - Dec - 2017 04 Min 39 Sec 18/20 -
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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 | 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
|
| 2 | Product differentiation is a pre-condition of: |
A. Perfect competition
B. Imperfect compitition
C. Monopoly
D. Oligopoly
|
| 3 | 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
|
| 4 | Marginal revenue is always less than price at all levels of output in |
A. perfect competition
B. monopoly
C. both A and B
D. none of the above
|
| 5 | The kind of market is undesirable |
A. general market
B. specialized market
C. local market
D. monopoly market
|
| 6 | The concept of perfect competition was introduced by. |
A. Adam Smith
B. Alfred Marshall
C. Keynes
D. Malthus
|
| 7 | How many types of markets according to time |
A. 3
B. 4
C. 5
D. 6
|
| 8 | Different kinds of imperfect competition are. |
A. Monopoly
B. Monopolistic competition
C. Oligopoly
D. All 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 | A monopoly market can be controlled by. |
A. Fixing of the price by the government
B. Administrative measures
C. Introduction of substitutes
D. Nationalisation
|
Test Questions