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This online test contains MCQs about following topics:
. Firm's costs of production . Kinds of costs according to payment . Short run costs . Concepts of pre unit costs of output . Interrelationship of average cost and marginal cost . Long run costs . Derivation of long run average cost curve . Derivation of long run marginal cost curve
ICOM Part 1 Economics Ch 6 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 6 "Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test"
Try The MCQ's Test For Chapter 6 "Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test"
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Total Questions15
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Time Allowed20
Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test
00:00
Question # 1
One of the following is a fixed capital:
Question # 2
Under monopoly average revenue curve remains ______ the marginal revenue curve
Question # 3
What is the reward of Labour ?
Question # 4
The costs which a firm bear only in case of producing commodities
Question # 5
The costs which increase with the increase in output and decrease with the decrease in output, are called
Question # 6
Which one of the following represents fixed cost
Question # 7
The costs which the firm has to bear in every condition in the short period, are called
Question # 8
Which factor combines other three factors ?
Question # 9
The additional cost which a firm has to bear in order to produce additional unit of output, are called
Question # 10
Average cost curve is in short run
Question # 11
Average revenue is equal to
Question # 12
The demand curve for monopolist is also called
Question # 13
The amount of money which a firm gets by selling a particular quantity of output, is called
Question # 14
When production of a firm increases then total variable costs
Question # 15
What is the reward of Organization ?
11th Principle of Economics Chapter 6 Test
Here you can prepare 11th Principle of Economics English Medium Chapter 6 Firm's Costs of Production and Revenues Test. Click the button for 100% free full practice test.
Top Scorers Of Chapter 6 "Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test" MCQ`s Test
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M Muhammad Hammad Shekhani 30 - Jun - 2021 02 Min 53 Sec 14/15 -
S Subtain Ahmed Raza 21 - Jul - 2023 02 Min 57 Sec 14/15 -
S Samar 14 - Jul - 2021 04 Min 01 Sec 14/15 -
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U Unknown 21 - Jul - 2023 01 Min 57 Sec 13/15 -
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H HaXEeb RajPut 26 - Aug - 2021 03 Min 30 Sec 12/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 6 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | All the factors production can be hired except. |
A. Land
B. Labour
C. Capital
D. Organization
|
| 2 | Marginal cost curve cuts average cost curve when average cost is |
A. Maximum
B. Minimum
C. Increasing
D. Decreasing
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| 3 | To increase profit a firm minimises |
A. revenues
B. costs
C. demand
D. supply
|
| 4 | Which factor combines other three factors ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 5 | Dividing total costs by the units of output is attained |
A. Average fixed cost
B. Average cost
C. Average variable cost
D. Marginal cost
|
| 6 | Under monopoly average revenue curve remains ______ the marginal revenue curve |
A. Below
B. Above
C. Parallel to
D. None of three
|
| 7 | Wages of temporary labourers are |
A. Fixed cost
B. Marginal cost
C. Total cost
D. Variable cost
|
| 8 | The amount of money which a firm gets by selling a particular quantity of output, is called |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Fixed cost
|
| 9 | Number of firms under monopoly is |
A. One
B. Two
C. Three
D. Four
|
| 10 | Which one of the following represents fixed cost |
A. Price of raw material
B. Wages
C. Capital goods
D. Wages of permanent labour
|
Test Questions