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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
How many types of markets according to location
Question # 2
Which one of the following is a day to day market.
Question # 3
A monopoly market can be controlled by.
Question # 4
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
Question # 5
The major difference between perfect competition and monopolistic competition is
Question # 6
The extent of market depends upon
Question # 7
The market of cars is.
Question # 8
Extent of market mainly depends upon.
Question # 9
Stock exchange is market where we can buy:
Question # 10
Market is an area where :
Question # 11
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 12
Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called
Question # 13
Malaysia enjoys monopoly on rubber, but which kind of monopoluit is.
Question # 14
In the business world
Question # 15
Common market of SAARC countries will be called:
Question # 16
In case of perfect competition in the market
Question # 17
Which is a condition for existence of monopoly
Question # 18
Different prices are charged from different customers of the same product. This is called.
Question # 19
Which is NOTtrue
Question # 20
Marginal revenue is always less than price at all levels of output in
ICS Part 1 Economics Chapter 12 MCQs Test
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H hamza abid 11 - Aug - 2021 10 Min 50 Sec 20/20 -
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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 | 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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| 2 | When marginal revenue is zero, total revenue is |
A. maximum
B. minimum
C. zero
D. decreasing
|
| 3 | Stock exchange is market where we can buy: |
A. Shares
B. Foreign exchange
C. Factors of production
D. Consumer goods
|
| 4 | 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
|
| 5 | 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
|
| 6 | Which is a condition for existence of monopoly |
A. big size
B. identical product
C. absence of government taxes
D. no close substitute
|
| 7 | 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
|
| 8 | The kind of market is undesirable |
A. general market
B. specialized market
C. local market
D. monopoly market
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| 9 | The market of cars is. |
A. International market
B. Regional market
C. Local market
D. Domestic market
|
| 10 | How many types of markets according to time |
A. 3
B. 4
C. 5
D. 6
|
Test Questions