12th Chapter

ICS Part 1 Economics Chapter 12 MCQs Test

First Year Economics Chapter 12 Online MCQ Test for 1st Year Economics Chapter 12 (Market and Revenue Analysis)

This online test contains MCQs about following topics:

Kind of markets . Perfect and imperfect market . Perfect competition . Monopolu . Revenue curves

ICS Part 1 Economics Chapter 12 Test

Start Chapter 12 Test

First Year Economics Chapter 12 Online MCQ Test for 1st Year Economics Chapter 12 (Market and Revenue Analysis)

Sr. # Questions Answers Choice
1 A group of buyers and sellers that exchange a goods or services at a price are called
  • A. Market
  • B. Commodity
  • C. Place
  • D. None of these
2 Common market of SAARC countries will be called:
  • A. International market
  • B. National market
  • C. Regional market
  • D. None of the three
3 Extent of market mainly depends upon.
  • A. Availability of means of transport and communication
  • B. Nature of supply
  • C. Government restriction
  • D. Perishable goods
4 The market of refrigerators in general is called:
  • A. Domestic market
  • B. Local market
  • C. International market
  • D. National market
5 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
6 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
7 A short period market is the market of.
  • A. Perishable goods
  • B. Durable goods
  • C. Consumer goods
  • D. Capital goods
8 Which is a condition for existence of monopoly
  • A. big size
  • B. identical product
  • C. absence of government taxes
  • D. no close substitute
9 Different kinds of imperfect competition are.
  • A. Monopoly
  • B. Monopolistic competition
  • C. Oligopoly
  • D. All the three
10 Which of the following markets comes closest to perfect market
  • A. wheat market
  • B. cigarette market
  • C. cold drinks market
  • D. stock market

Top Scorers of Economics Ics Part 1 English Medium Chapter 12 Online Test

F

FATIKA QAZI

Lahore11 - Jun - 2025

10/20
03 Mins 34 Sec

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