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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
When average cost falls marginal cost is ---------------- average cost
Question # 2
The factor of production which is result of human struggle.
Question # 3
Reward of capital is called
Question # 4
Number of firms under monopoly is
Question # 5
Short run cost curves are generally
Question # 6
When average cost curve is rising, then marginal cost curve
Question # 7
Which one factor is free gift of nature ?
Question # 8
When average cost curve id falling, then marginal cost curve
Question # 9
One of the following is a fixed capital:
Question # 10
One of the following is considered as capital:
Question # 11
In perfect competition the average revenue curve is
Question # 12
Which factor combines other three factors ?
Question # 13
Price of raw material, wages of temporary labourers, transport costs etc,are called
Question # 14
Average revenue is equal to
Question # 15
Under monopoly average revenue curve remains ______ the marginal revenue curve
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 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
|
| 2 | 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
|
| 3 | The kind of market, in which a single firm produces a single commodity which has no close substitute |
A. Monopoly
B. Duopoly
C. Oligopoly
D. Perfect competition
|
| 4 | Dividing total costs by the units of output is attained |
A. Average fixed cost
B. Average cost
C. Average variable cost
D. Marginal cost
|
| 5 | 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
|
| 6 | When a firm's average total cost is equal to price, then it is called as |
A. Normal profit
B. Abnormal profit
C. Normal loss
D. Abnormal loss
|
| 7 | What is the reward of Organization ? |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 8 | All the factors production can be hired except. |
A. Land
B. Labour
C. Capital
D. Organization
|
| 9 | Which factor combines other three factors ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 10 | When average cost is minimum, marginal cost is - - - - - - - - average cost |
A. Less than
B. More than
C. Equal to
D. None of three
|
Test Questions
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