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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
Demand curve of a monopolist has the shape
Question # 2
Under perfect competition average revenue is always - - - marginal revenue
Question # 3
Reward of Land is called.
Question # 4
The factor of production which is result of human struggle.
Question # 5
Total expenditures which a firm bear to produce a particular quantity of output
Question # 6
One of the following is a fixed capital:
Question # 7
When production of a firm increases then total variable costs
Question # 8
What is the reward of Labour ?
Question # 9
The costs which increase with the increase in output and decrease with the decrease in output, are called
Question # 10
Number of firms under monopoly is
Question # 11
Dividing total fixed costs by the units of output, is attained
Question # 12
When average cost curve is rising, then marginal cost curve
Question # 13
Nature of inter-relationship of average revenue and marginal revenue under perfect competition is
Question # 14
When average cost increases, marginal cost is - - - - - - average cost
Question # 15
Dividing total variable costs by the units of output, is attained
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 -
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A Abeer 08 - Feb - 2024 01 Min 49 Sec 13/15 -
U Unknown 21 - Jul - 2023 01 Min 57 Sec 13/15 -
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N niimra naeem 03 - Nov - 2018 04 Min 25 Sec 13/15 -
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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 | What is the reward of Labour ? |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 2 | One of the following is a fixed capital: |
A. Raw material
B. Machinery
C. Saving certificate
D. None of these
|
| 3 | 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
|
| 4 | 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
|
| 5 | What is the reward of Organization ? |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 6 | 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
|
| 7 | 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
|
| 8 | 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
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| 9 | Price of raw material, wages of temporary labourers, transport costs etc,are called |
A. Fixed costs
B. Variable costs
C. Marginal cost
D. Total cost
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| 10 | Fixed costs are those costs of production which |
A. Rise with quantity of output
B. Do not change with any amount of production
C. Decline with rising production
D. None of these
|
Test Questions