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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 slope of MR curve in monopoly is
Question # 2
The additional cost which a firm has to bear in order to produce additional unit of output, are called
Question # 3
Short run cost curves are generally
Question # 4
Under perfect competition average revenue is always - - - marginal revenue
Question # 5
Price of raw material, wages of temporary labourers, transport costs etc,are called
Question # 6
The factor of production which is result of human struggle.
Question # 7
Which one factor is free gift of nature ?
Question # 8
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Question # 9
Which one is comparatively the most important factor ?
Question # 10
Average cost curve is in short run
Question # 11
Which is the Demand Curve of a frim
Question # 12
The kind of market, in which a single firm produces a single commodity which has no close substitute
Question # 13
Marginal cost curve cuts average cost curve when average cost is
Question # 14
Which one of the following represents fixed cost
Question # 15
One of the following is not included in explicit cost
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 -
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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 | Demand curve of a monopolist has the shape |
A. Falls from left to right
B. Rises from left to right
C. Remains below MR curve
D. Remains parallel to ox-axis
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| 2 | Average revenue is equal to |
A. Price
B. Total revenue
C. Marginal revenue
D. Average cost
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| 3 | Which on factor is the basic factor ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 4 | Which one is immobile factor ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 5 | 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
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| 6 | How many kinds of costs are in the short period |
A. Two
B. Three
C. Four
D. Five
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| 7 | The slope of MR curve in monopoly is |
A. Vertical
B. Increasing
C. Horizontal
D. Negative
|
| 8 | One of the following is not land: |
A. White house
B. Sub continents
C. Power house
D. Both (a) and (b)
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| 9 | The factor of production which is result of human struggle. |
A. Land
B. Labour
C. Capital
D. Organization
|
| 10 | Which factor is helpful for earning more income ? |
A. Land
B. Labour
C. Capital
D. Organization
|
Test Questions
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