ICOM Part 1 Principles of Economics English Medium Chapter 6 MCQ's Test

11th Class Principles of Economics English Medium Online MCQ Test for Chapter 6 (Firm's Costs of Production and Revenues)

ICOM Part 1 Principles of Economics English Medium Chapter 6 MCQ's Test

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ICOM Part 1 Principles of Economics Chapter Wise Test (English Medium)

11th Class Principles of Economics English Medium Online MCQ Test for Chapter 6 (Firm's Costs of Production and Revenues)

Sr. # Questions Answers Choice
1 Which factor is helpful for earning more income ?
  • A. Land
  • B. Labour
  • C. Capital
  • D. Organization
2 When total revenue is maximum, marginal revenue is
  • A. More
  • B. Less
  • C. Constant
  • D. Zero
3 Which one factor is free gift of nature ?
  • A. Land
  • B. Labour
  • C. Capital
  • D. Organization
4 Dividing total variable costs by the units of output, is attained
  • A. Average fixed cost
  • B. Average variable cost
  • C. Average cost
  • D. Marginal cost
5 In the short period, fixed cost curve has the tendency
  • A. Parallel to ox-axis
  • B. Parallel to oy-axis
  • C. Positive
  • D. Negative
6 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
7 One of the following is a fixed capital:
  • A. Raw material
  • B. Machinery
  • C. Saving certificate
  • D. None of these
8 The factor of production which is result of human struggle.
  • A. Land
  • B. Labour
  • C. Capital
  • D. Organization
9 Average cost curve is in short run
  • A. Negative sloped
  • B. U-shaped
  • C. L-shaped
  • D. Positive sloped
10 The slope of MR curve in monopoly is
  • A. Vertical
  • B. Increasing
  • C. Horizontal
  • D. Negative

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