Economics Ics Part 1 English Medium Chapter 12 Online Test With Answers

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Economics Ics Part 1 English Medium Chapter 12 Online Test

Sr. # Questions Answers Choice
1 A monopoly market can be controlled by. Fixing of the price by the government Administrative measures Introduction of substitutes Nationalisation
2 Extent of market mainly depends upon. Availability of means of transport and communication Nature of supply Government restriction Perishable goods
3 Different kinds of imperfect competition are. Monopoly Monopolistic competition Oligopoly All the three
4 A monopolist is always interested and obtains. Normal profit Subnormal profit Continues production even at loss Super normal profit
5 Buyers and sellers under perfect competition are. The same in number Large in number Small in number None of the above
6 The market of cars is. International market Regional market Local market Domestic market
7 A short period market is the market of. Perishable goods Durable goods Consumer goods Capital goods
8 The concept of perfect competition was introduced by. Adam Smith Alfred Marshall Keynes Malthus
9 Different prices are charged from different customers of the same product. This is called. Short run price Price instability Price discrimination Long run price
10 Normal price is a price which prevails In day to day market In domestic market In the long run market In a foreign market
11 The extent of market depends upon Means of transport and communication Political instability Economics instability Trade restriction
12 The supply curve of day to day market is. Touching the horizontal axis Touching the vertical axis Perfactly elastic Perfactly inelastic
13 Which one of the following is a day to day market. The market of perishable goods The market of refrigerators The market of stationary None of the three
14 Stock exchange is market where we can buy: Shares Foreign exchange Factors of production Consumer goods
15 Common market of SAARC countries will be called: International market National market Regional market None of the three
16 Malaysia enjoys monopoly on rubber, but which kind of monopoluit is. Natural monopoly Social monopoly Legal monopoly Implied monopoly
17 Product differentiation is a pre-condition of: Perfect competition Imperfect compitition Monopoly Oligopoly
18 The market of refrigerators in general is called: Domestic market Local market International market National market
19 Market is an area where : Products are sold Buyers and sellers come in contact with each other Price flactuates Price remain constant
20 Perfect competition is a situation of market, where there are very large number of firms selling the same commodity are called Revenue curve under perfect competition Monopoly curve Total revenue curve None of these
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