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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
Market is an area where :
Question # 2
In case of monopoly
Question # 3
The market of refrigerators in general is called:
Question # 4
In the business world
Question # 5
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 6
Which of the following is one of the assumptions of perfect competition.
Question # 7
Product differentiation is a pre-condition of:
Question # 8
Common market of SAARC countries will be called:
Question # 9
Which one of the following is a day to day market.
Question # 10
The supply curve of day to day market is.
Question # 11
The concept of perfect competition was introduced by.
Question # 12
The kind of market is undesirable
Question # 13
A firm under perfect competition is
Question # 14
Which of the following markets comes closest to perfect market
Question # 15
Buyers and sellers under perfect competition are.
Question # 16
How many kinds of market?
Question # 17
Extent of market mainly depends upon.
Question # 18
Malaysia enjoys monopoly on rubber, but which kind of monopoluit is.
Question # 19
Which is NOTtrue
Question # 20
Different kinds of imperfect competition are.
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 -
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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 | 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 | Extent of market mainly depends upon. |
A. Availability of means of transport and communication
B. Nature of supply
C. Government restriction
D. Perishable goods
|
| 3 | Different kinds of imperfect competition are. |
A. Monopoly
B. Monopolistic competition
C. Oligopoly
D. All the three
|
| 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 | Which of the following markets comes closest to perfect market |
A. wheat market
B. cigarette market
C. cold drinks market
D. stock market
|
| 6 | How many types of markets according to time |
A. 3
B. 4
C. 5
D. 6
|
| 7 | The concept of perfect competition was introduced by. |
A. Adam Smith
B. Alfred Marshall
C. Keynes
D. Malthus
|
| 8 | A monopolist is always interested and obtains. |
A. Normal profit
B. Subnormal profit
C. Continues production even at loss
D. Super normal profit
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| 9 | Product differentiation is a pre-condition of: |
A. Perfect competition
B. Imperfect compitition
C. Monopoly
D. Oligopoly
|
| 10 | How many kinds of market? |
A. 4
B. 5
C. 6
D. 7
|
Test Questions
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