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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
A short period market is the market of.
Question # 3
Buyers and sellers under perfect competition are.
Question # 4
Which is NOTtrue
Question # 5
How many kinds of market?
Question # 6
A firm under perfect competition is
Question # 7
The market of refrigerators in general is called:
Question # 8
Marginal revenue is always less than price at all levels of output in
Question # 9
Malaysia enjoys monopoly on rubber, but which kind of monopoluit is.
Question # 10
The market of cars is.
Question # 11
A monopolist is always interested and obtains.
Question # 12
The extent of market depends upon
Question # 13
Normal price is a price which prevails
Question # 14
A group of buyers and sellers that exchange a goods or services at a price are called
Question # 15
A monopoly market can be controlled by.
Question # 16
Which of the following is NOTa characteristic of perfect competition?
Question # 17
Different prices are charged from different customers of the same product. This is called.
Question # 18
Which is a condition for existence of monopoly
Question # 19
In case of monopoly
Question # 20
The supply curve of day to day market is.
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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K Kazim 27 - Dec - 2017 04 Min 39 Sec 18/20 -
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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 | The market of refrigerators in general is called: |
A. Domestic market
B. Local market
C. International market
D. National market
|
| 2 | In the business world |
A. a firm working under perfect competition wants to become a monopoly
B. a firm working under monopoly wants to become a competitive firm
C. monopoly price is always higher than competitive price
D. competitive price is always higher than monopoly price
|
| 3 | The kind of market is undesirable |
A. general market
B. specialized market
C. local market
D. monopoly market
|
| 4 | Which one of the following is a day to day market. |
A. The market of perishable goods
B. The market of refrigerators
C. The market of stationary
D. None of the three
|
| 5 | How many types of markets according to location |
A. 4
B. 5
C. 6
D. 7
|
| 6 | When marginal revenue is zero, total revenue is |
A. maximum
B. minimum
C. zero
D. decreasing
|
| 7 | In case of perfect competition in the market |
A. marginal revenue curve always slopes upward
B. marginal revenue curve always slopes downward
C. marginal revenue is always equal to average revenue
D. marginal revenue is always less than to average revenue
|
| 8 | Extent of market mainly depends upon. |
A. Availability of means of transport and communication
B. Nature of supply
C. Government restriction
D. Perishable goods
|
| 9 | Different kinds of imperfect competition are. |
A. Monopoly
B. Monopolistic competition
C. Oligopoly
D. All the three
|
| 10 | A monopolist is always interested and obtains. |
A. Normal profit
B. Subnormal profit
C. Continues production even at loss
D. Super normal profit
|
Test Questions