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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
To increase profit a firm minimises
Question # 2
Which one factor is free gift of nature ?
Question # 3
When average cost falls marginal cost is ---------------- average cost
Question # 4
Fixed costs are those costs of production which
Question # 5
The additional cost which a firm has to bear in order to produce additional unit of output, are called
Question # 6
The costs which a firm bear only in case of producing commodities
Question # 7
What is the reward of Organization ?
Question # 8
The factor of production which is result of human struggle.
Question # 9
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Question # 10
All the factors production can be hired except.
Question # 11
One of the following is not included in explicit cost
Question # 12
Wages of temporary labourers are
Question # 13
Under perfect competition average revenue is always - - - marginal revenue
Question # 14
Under monopoly average revenue curve remains the marginal revenue curve
Question # 15
The costs which increase with the increase in output and decrease with the decrease in output, are called
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 | Under perfect competition average revenue is always - - - marginal revenue |
A. Equal to
B. Less than
C. More than
D. None of three
|
| 2 | Which one is comparatively the most important factor ? |
A. Land
B. Labour
C. Capital
D. Organization
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| 3 | The costs which a firm bear only in case of producing commodities |
A. Fixed costs
B. Variable costs
C. Total costs
D. Average fixed cost
|
| 4 | When average cost curve id falling, then marginal cost curve |
A. Remains below it
B. Remains above it
C. Remains parallel to it
D. Is vertical
|
| 5 | How many kinds of costs are in the short period |
A. Two
B. Three
C. Four
D. Five
|
| 6 | The demand curve for monopolist is also called |
A. Total revenue
B. Average revenue
C. Marginal revenue
D. Zero revenue
|
| 7 | Which curve represents demand curve also |
A. Marginal revenue
B. Average revenue
C. Total revenue
D. Marginal cost
|
| 8 | When production of a firm increases then total variable costs |
A. Decrease
B. Increase
C. Remain constant
D. Do not change
|
| 9 | 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
|
| 10 | Short run cost curves are generally |
A. flatter
B. u shaped
C. saucer shaped
D. oval
|
Test Questions
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