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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
Which of the following is NOTa characteristic of perfect competition?
Question # 2
Different prices are charged from different customers of the same product. This is called.
Question # 3
Which is NOTtrue
Question # 4
Which one of the following is a day to day market.
Question # 5
The major difference between perfect competition and monopolistic competition is
Question # 6
In the business world
Question # 7
In case of perfect competition in the market
Question # 8
Extent of market mainly depends upon.
Question # 9
A monopoly market can be controlled by.
Question # 10
Which is a condition for existence of monopoly
Question # 11
Buyers and sellers under perfect competition are.
Question # 12
The extent of market depends upon
Question # 13
When marginal revenue is zero, total revenue is
Question # 14
A monopolist is always interested and obtains.
Question # 15
How many types of markets according to location
Question # 16
In case of monopoly
Question # 17
How many types of markets according to time
Question # 18
Different kinds of imperfect competition are.
Question # 19
How many kinds of market?
Question # 20
Stock exchange is market where we can buy:
ICS Part 1 Economics Chapter 12 MCQs Test
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ICS Part 1 Economics Chapter 12 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Extent of market mainly depends upon. |
A. Availability of means of transport and communication
B. Nature of supply
C. Government restriction
D. Perishable goods
|
| 2 | Malaysia enjoys monopoly on rubber, but which kind of monopoluit is. |
A. Natural monopoly
B. Social monopoly
C. Legal monopoly
D. Implied monopoly
|
| 3 | Which is a condition for existence of monopoly |
A. big size
B. identical product
C. absence of government taxes
D. no close substitute
|
| 4 | Product differentiation is a pre-condition of: |
A. Perfect competition
B. Imperfect compitition
C. Monopoly
D. Oligopoly
|
| 5 | 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
|
| 6 | 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
|
| 7 | A firm under perfect competition is |
A. price maker
B. price breaker
C. price taker
D. price shaker
|
| 8 | 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
|
| 9 | The concept of perfect competition was introduced by. |
A. Adam Smith
B. Alfred Marshall
C. Keynes
D. Malthus
|
| 10 | 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
|
Test Questions