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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
Price of raw material, wages of temporary labourers, transport costs etc,are called
Question # 2
The costs which the firm has to bear in every condition in the short period, are called
Question # 3
Fixed costs are those costs of production which
Question # 4
The amount of money which a firm gets by selling a particular quantity of output, is called
Question # 5
In the short period, fixed cost curve has the tendency
Question # 6
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Question # 7
Wages of temporary labourers are
Question # 8
Average cost curve is in short run
Question # 9
Under perfect competition average revenue is always - - - marginal revenue
Question # 10
When average cost falls marginal cost is ---------------- average cost
Question # 11
Under monopoly average revenue curve remains the marginal revenue curve
Question # 12
When a firm's average total cost is equal to price, then it is called as
Question # 13
Reward of Land is called.
Question # 14
Which curve represents demand curve also
Question # 15
The costs which a firm bear only in case of producing commodities
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 | 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
|
| 3 | To increase profit a firm minimises |
A. revenues
B. costs
C. demand
D. supply
|
| 4 | Marginal cost curve cuts average cost curve when average cost is |
A. Maximum
B. Minimum
C. Increasing
D. Decreasing
|
| 5 | Slope of average revenue and marginal revenue cures under monopoly is |
A. positive
B. negative
C. zero
D. none of three
|
| 6 | Which one of the following represents fixed cost |
A. Price of raw material
B. Wages
C. Capital goods
D. Wages of permanent labour
|
| 7 | Short run cost curves are generally |
A. flatter
B. u shaped
C. saucer shaped
D. oval
|
| 8 | In the short period, fixed cost curve has the tendency |
A. Parallel to ox-axis
B. Parallel to oy-axis
C. Positive
D. Negative
|
| 9 | 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
|
| 10 | The amount of money which a firm gets by selling a particular quantity of output, is called |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Fixed cost
|
Test Questions
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