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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
The factor of production which is result of human struggle.
Question # 2
Under monopoly average revenue curve remains ______ the marginal revenue curve
Question # 3
Additional amount of money which a firm gets by selling an additional unit of output is called
Question # 4
The costs which a firm bear only in case of producing commodities
Question # 5
What is the reward of Organization ?
Question # 6
Under perfect competition average revenue is always - - - marginal revenue
Question # 7
Which factor combines other three factors ?
Question # 8
One of the following is not included in implicit cost
Question # 9
When average cost falls marginal cost is ---------------- average cost
Question # 10
Which one factor is free gift of nature ?
Question # 11
When average cost curve is rising, then marginal cost curve
Question # 12
The amount of money which a firm gets by selling a particular quantity of output, is called
Question # 13
The kind of market, in which a single firm produces a single commodity which has no close substitute
Question # 14
When average cost falls, marginal cost is - - - - - - average cost
Question # 15
One of the following is considered as capital:
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 | Price of raw material, wages of temporary labourers, transport costs etc,are called |
A. Fixed costs
B. Variable costs
C. Marginal cost
D. Total cost
|
| 2 | When average cost curve is rising, then marginal cost curve |
A. Remains below it
B. Remains above it
C. Remains parallel to it
D. Is vertical
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| 3 | Additional amount of money which a firm gets by selling an additional unit of output is called |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Revenue
|
| 4 | All the factors production can be hired except. |
A. Land
B. Labour
C. Capital
D. Organization
|
| 5 | Fixed costs are those costs of production which |
A. Rise with quantity of output
B. Do not change with any amount of production
C. Decline with rising production
D. None of these
|
| 6 | The costs which increase with the increase in output and decrease with the decrease in output, are called |
A. Variable costs
B. Fixed costs
C. Average costs
D. Marginal cost
|
| 7 | What is the reward of Organization ? |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 8 | How many kinds of costs are in the short period |
A. Two
B. Three
C. Four
D. Five
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| 9 | The costs which a firm bear only in case of producing commodities |
A. Fixed costs
B. Variable costs
C. Total costs
D. Average fixed cost
|
| 10 | Which curve represents demand curve also |
A. Marginal revenue
B. Average revenue
C. Total revenue
D. Marginal cost
|
Test Questions
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