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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
Under perfect competition MR and AR curves
Question # 2
The kind of market is undesirable
Question # 3
Different prices are charged from different customers of the same product. This is called.
Question # 4
The market of refrigerators in general is called:
Question # 5
Buyers and sellers under perfect competition are.
Question # 6
How many kinds of market?
Question # 7
Extent of market mainly depends upon.
Question # 8
Which of the following is one of the assumptions of perfect competition.
Question # 9
A monopoly market can be controlled by.
Question # 10
The extent of market depends upon
Question # 11
Product differentiation is a pre-condition of:
Question # 12
The major difference between perfect competition and monopolistic competition is
Question # 13
Normal price is a price which prevails
Question # 14
Which one of the following is a day to day market.
Question # 15
How many types of markets according to location
Question # 16
Common market of SAARC countries will be called:
Question # 17
Market is an area where :
Question # 18
The concept of perfect competition was introduced by.
Question # 19
Which of the following is NOTa characteristic of perfect competition?
Question # 20
A short period market is the market of.
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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A Adil 04 - Jan - 2018 00 Min 02 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 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
|
| 2 | Different prices are charged from different customers of the same product. This is called. |
A. Short run price
B. Price instability
C. Price discrimination
D. Long run price
|
| 3 | 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
|
| 4 | How many types of markets according to location |
A. 4
B. 5
C. 6
D. 7
|
| 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 | When marginal revenue is zero, total revenue is |
A. maximum
B. minimum
C. zero
D. decreasing
|
| 7 | Product differentiation is a pre-condition of: |
A. Perfect competition
B. Imperfect compitition
C. Monopoly
D. Oligopoly
|
| 8 | Which is a condition for existence of monopoly |
A. big size
B. identical product
C. absence of government taxes
D. no close substitute
|
| 9 | 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
|
| 10 | The market of cars is. |
A. International market
B. Regional market
C. Local market
D. Domestic market
|
Test Questions
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