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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 additional cost which a firm has to bear in order to produce additional unit of output, are called
Question # 2
When average cost curve id falling, then marginal cost curve
Question # 3
Which one is immobile factor ?
Question # 4
Average revenue is equal to
Question # 5
Which on factor is the basic factor ?
Question # 6
One of the following is considered as capital:
Question # 7
Dividing total costs by the units of output is attained
Question # 8
Under monopoly average revenue curve remains the marginal revenue curve
Question # 9
In the short period, fixed cost curve has the tendency
Question # 10
Average cost curve is in short run
Question # 11
The costs which increase with the increase in output and decrease with the decrease in output, are called
Question # 12
One of the following is not land:
Question # 13
Total expenditures which a firm bear to produce a particular quantity of output
Question # 14
Reward of Land is called.
Question # 15
How many kinds of costs are in the short period
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 factor of production which is result of human struggle. |
A. Land
B. Labour
C. Capital
D. Organization
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| 2 | What is the reward of Labour ? |
A. Rent
B. Wage
C. Interest
D. Profit
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| 3 | 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
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| 4 | Which factor combines other three factors ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 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 | Under perfect competition average revenue is always - - - marginal revenue |
A. Equal to
B. Less than
C. More than
D. None of three
|
| 7 | Reward of capital is called |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 8 | When average cost falls marginal cost is ---------------- average cost |
A. More than
B. Less than
C. Equal to
D. A and C
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| 9 | Nature of inter-relationship of average revenue and marginal revenue under perfect competition is |
A. Average revenue remains more than marginal revenue
B. Average revenue remains less than marginal revenue
C. Marginal revenue remains less than average revenue
D. Average revenue remains equal to marginal revenue
|
| 10 | Number of firms under monopoly is |
A. One
B. Two
C. Three
D. Four
|
Test Questions