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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
What is the reward of Organization ?
Question # 2
Which factor combines other three factors ?
Question # 3
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Question # 4
One of the following is considered as capital:
Question # 5
In perfect competition the average revenue curve is
Question # 6
Fixed costs are those costs of production which
Question # 7
To increase profit a firm minimises
Question # 8
The demand curve for monopolist is also called
Question # 9
Average revenue is equal to
Question # 10
One of the following is a fixed capital:
Question # 11
Reward of Land is called.
Question # 12
Under perfect competition average revenue is always - - - marginal revenue
Question # 13
One of the following is not land:
Question # 14
The slope of MR curve in monopoly is
Question # 15
Dividing total fixed costs by the units of output, is attained
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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S Subtain Ahmed Raza 21 - Jul - 2023 02 Min 57 Sec 14/15 -
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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 | The additional cost which a firm has to bear in order to produce additional unit of output, are called |
A. Average cost
B. Marginal cost
C. Fixed costs
D. Variable costs
|
| 2 | In perfect competition the average revenue curve is |
A. Vertical
B. Horizontal
C. Rising
D. Declining
|
| 3 | Which one is immobile factor ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 4 | How many kinds of costs are in the short period |
A. Two
B. Three
C. Four
D. Five
|
| 5 | Which factor combines other three factors ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 6 | Total expenditures which a firm bear to produce a particular quantity of output |
A. Fixed costs
B. Variable costs
C. Total costs
D. Average fixed cost
|
| 7 | 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
|
| 8 | Average cost curve is in short run |
A. Negative sloped
B. U-shaped
C. L-shaped
D. Positive sloped
|
| 9 | Wages of temporary labourers are |
A. Fixed cost
B. Marginal cost
C. Total cost
D. Variable cost
|
| 10 | One of the following is not included in explicit cost |
A. Wages of labourers
B. Reward of entrepreneur's personal labour
C. Price of raw material
D. Interest of capital
|
Test Questions