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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
Which one is comparatively the most important factor ?
Question # 2
When a firm's average total cost is equal to price, then it is called as
Question # 3
When average cost is minimum, marginal cost is - - - - - - - - average cost
Question # 4
Additional amount of money which a firm gets by selling an additional unit of output is called
Question # 5
The amount of money which a firm gets by selling a particular quantity of output, is called
Question # 6
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Question # 7
Dividing total costs by the units of output is attained
Question # 8
To increase profit a firm minimises
Question # 9
Which one factor is free gift of nature ?
Question # 10
Price of raw material, wages of temporary labourers, transport costs etc,are called
Question # 11
Short run cost curves are generally
Question # 12
In perfect competition the average revenue curve is
Question # 13
The additional cost which a firm has to bear in order to produce additional unit of output, are called
Question # 14
When average cost curve id falling, then marginal cost curve
Question # 15
One of the following is not included in implicit cost
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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M Muhammad Hammad Shekhani 30 - Jun - 2021 02 Min 53 Sec 14/15 -
S Subtain Ahmed Raza 21 - Jul - 2023 02 Min 57 Sec 14/15 -
S Samar 14 - Jul - 2021 04 Min 01 Sec 14/15 -
N Naveera 24 - May - 2021 04 Min 47 Sec 14/15 -
H Hamza 18 - Aug - 2021 05 Min 16 Sec 14/15 -
H hamza abid 16 - Aug - 2021 10 Min 50 Sec 14/15 -
A Abeer 08 - Feb - 2024 01 Min 49 Sec 13/15 -
U Unknown 21 - Jul - 2023 01 Min 57 Sec 13/15 -
S Sania Butt 03 - Jun - 2024 02 Min 19 Sec 13/15 -
A Aliya hassan 03 - Dec - 2020 03 Min 07 Sec 13/15 -
A Anfal 02 - Sep - 2021 04 Min 10 Sec 13/15 -
N niimra naeem 03 - Nov - 2018 04 Min 25 Sec 13/15 -
S Saleem 18 - Jan - 2018 01 Min 37 Sec 12/15 -
Z Zayn 27 - Jul - 2021 02 Min 12 Sec 12/15 -
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 | Which factor is helpful for earning more income ? |
A. Land
B. Labour
C. Capital
D. Organization
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| 2 | 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
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| 3 | 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
|
| 4 | Short run cost curves are generally |
A. flatter
B. u shaped
C. saucer shaped
D. oval
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| 5 | 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
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| 6 | When average cost is minimum, marginal cost is - - - - - - - - average cost |
A. Less than
B. More than
C. Equal to
D. None of three
|
| 7 | The factor of production which is result of human struggle. |
A. Land
B. Labour
C. Capital
D. Organization
|
| 8 | Dividing total costs by the units of output is attained |
A. Average fixed cost
B. Average cost
C. Average variable cost
D. Marginal cost
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| 9 | Number of firms under monopoly is |
A. One
B. Two
C. Three
D. Four
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| 10 | 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
|
Test Questions