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

ICS Part 1 Economics Chapter 12 Test

Start Chapter 12 Test

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

Sr. # Questions Answers Choice
1 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
2 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
3 Stock exchange is market where we can buy:
  • A. Shares
  • B. Foreign exchange
  • C. Factors of production
  • D. Consumer goods
4 Normal price is a price which prevails
  • A. In day to day market
  • B. In domestic market
  • C. In the long run market
  • D. In a foreign market
5 The market of refrigerators in general is called:
  • A. Domestic market
  • B. Local market
  • C. International market
  • D. National market
6 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
7 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
8 A monopoly market can be controlled by.
  • A. Fixing of the price by the government
  • B. Administrative measures
  • C. Introduction of substitutes
  • D. Nationalisation
9 Malaysia enjoys monopoly on rubber, but which kind of monopoluit is.
  • A. Natural monopoly
  • B. Social monopoly
  • C. Legal monopoly
  • D. Implied monopoly
10 Common market of SAARC countries will be called:
  • A. International market
  • B. National market
  • C. Regional market
  • D. None of the three

Share your comments questions here
Sort By:
X

Sign in

to continue to ilmkidunya.com

inquiry-image

Free Admission Advice

Fill the form. Our admission consultants will call you with admission options.

X

Sign in

to continue to ilmkidunya.com

X

Sign in

to continue to ilmkidunya.com

X

Forgot Password

to continue to ilmkidunya.com

X

Register Type

Please Provide following information to Register

  • Student
  • Tutor
  • Consultant
  • Employer