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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
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Question # 1
One of the following is not included in explicit cost
Question # 2
Which factor combines other three factors ?
Question # 3
When total revenue is maximum, marginal revenue is
Question # 4
Under perfect competition average revenue is always - - - marginal revenue
Question # 5
One of the following is considered as capital:
Question # 6
When a firm's average total cost is equal to price, then it is called as
Question # 7
What is the reward of Organization ?
Question # 8
Dividing total variable costs by the units of output, is attained
Question # 9
Dividing total revenue by the sold units of output, is attained
Question # 10
In the short period, fixed cost curve has the tendency
Question # 11
When average cost increases, marginal cost is - - - - - - average cost
Question # 12
Dividing total fixed costs by the units of output, is attained
Question # 13
Additional amount of money which a firm gets by selling an additional unit of output is called
Question # 14
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Question # 15
When production of a firm increases then total variable costs
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 | Dividing total fixed costs by the units of output, is attained |
A. Average fixed cost
B. Average variable cost
C. Average cost
D. Marginal cost
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| 2 | Marginal cost curve cuts average cost curve when average cost is |
A. Maximum
B. Minimum
C. Increasing
D. Decreasing
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| 3 | In the short period, fixed cost curve has the tendency |
A. Parallel to ox-axis
B. Parallel to oy-axis
C. Positive
D. Negative
|
| 4 | Which one is comparatively the most important factor ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 5 | Which on factor is the basic factor ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 6 | Which one is immobile factor ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 7 | One of the following is not included in implicit cost |
A. Interest of entrepreneur's own capital
B. Rent of building
C. Reward of entrepreneur's own labour
D. Reward of entrepreneur's own land
|
| 8 | The costs which the firm has to bear in every condition in the short period, are called |
A. Total costs
B. Fixed costs
C. Variable costs
D. Marginal costs
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| 9 | The factor of production which is result of human struggle. |
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