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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
The market of refrigerators in general is called:
Question # 2
Which is NOTtrue
Question # 3
Stock exchange is market where we can buy:
Question # 4
In case of perfect competition in the market
Question # 5
The extent of market depends upon
Question # 6
A firm under perfect competition is
Question # 7
Which of the following is one of the assumptions of perfect competition.
Question # 8
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called
Question # 9
When marginal revenue is zero, total revenue is
Question # 10
Which of the following is NOTa characteristic of perfect competition?
Question # 11
Marginal revenue is always less than price at all levels of output in
Question # 12
Common market of SAARC countries will be called:
Question # 13
Which one of the following is a day to day market.
Question # 14
Product differentiation is a pre-condition of:
Question # 15
The supply curve of day to day market is.
Question # 16
The kind of market is undesirable
Question # 17
A monopoly market can be controlled by.
Question # 18
Which is a condition for existence of monopoly
Question # 19
Extent of market mainly depends upon.
Question # 20
How many kinds of market?
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 -
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M Maheen 20 - Feb - 2021 04 Min 30 Sec 19/20 -
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ICS Part 1 Class Economics Chapter 12 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 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 | Different kinds of imperfect competition are. |
A. Monopoly
B. Monopolistic competition
C. Oligopoly
D. All the three
|
| 3 | The extent of market depends upon |
A. Means of transport and communication
B. Political instability
C. Economics instability
D. Trade restriction
|
| 4 | 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
|
| 5 | Market is an area where : |
A. Products are sold
B. Buyers and sellers come in contact with each other
C. Price flactuates
D. Price remain constant
|
| 6 | Which of the following markets comes closest to perfect market |
A. wheat market
B. cigarette market
C. cold drinks market
D. stock market
|
| 7 | A firm under perfect competition is |
A. price maker
B. price breaker
C. price taker
D. price shaker
|
| 8 | 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
|
| 9 | The market of cars is. |
A. International market
B. Regional market
C. Local market
D. Domestic market
|
| 10 | A short period market is the market of. |
A. Perishable goods
B. Durable goods
C. Consumer goods
D. Capital goods
|
Test Questions
