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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

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

Sr. # Questions Answers Choice
1 Stock exchange is market where we can buy:
  • A. Shares
  • B. Foreign exchange
  • C. Factors of production
  • D. Consumer goods
2 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
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 Which is <i>NOT</i>true
  • 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
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 market of cars is.
  • A. International market
  • B. Regional market
  • C. Local market
  • D. Domestic market
7 The market of refrigerators in general is called:
  • A. Domestic market
  • B. Local market
  • C. International market
  • D. National market
8 Which of the following markets comes closest to perfect market
  • A. wheat market
  • B. cigarette market
  • C. cold drinks market
  • D. stock market
9 Common market of SAARC countries will be called:
  • A. International market
  • B. National market
  • C. Regional market
  • D. None of the three
10 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

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

S

Shanzay M

Lahore17 - Jun - 2022

10/20
06 Mins 02 Sec

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