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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
Under monopoly average revenue curve remains the marginal revenue curve
Question # 2
One of the following is a fixed capital:
Question # 3
To increase profit a firm minimises
Question # 4
Additional amount of money which a firm gets by selling an additional unit of output is called
Question # 5
Average revenue is equal to
Question # 6
When average cost curve id falling, then marginal cost curve
Question # 7
Price of raw material, wages of temporary labourers, transport costs etc,are called
Question # 8
Dividing total fixed costs by the units of output, is attained
Question # 9
Dividing total variable costs by the units of output, is attained
Question # 10
Number of firms under monopoly is
Question # 11
Wages of temporary labourers are
Question # 12
Reward of capital is called
Question # 13
Fixed costs are those costs of production which
Question # 14
Reward of Land is called.
Question # 15
Which is not included in variable 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 -
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U Unknown 21 - Jul - 2023 01 Min 57 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 | The shape of average cost curve in the short period is |
A. Vertical
B. Horizontal
C. Positively sloping
D. Like English alphabet U
|
| 2 | 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
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| 3 | 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
|
| 4 | Average cost curve is in short run |
A. Negative sloped
B. U-shaped
C. L-shaped
D. Positive sloped
|
| 5 | 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
|
| 6 | What is the reward of Organization ? |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 7 | Which factor combines other three factors ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 8 | Reward of Land is called. |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 9 | The factor of production which is result of human struggle. |
A. Land
B. Labour
C. Capital
D. Organization
|
| 10 | Number of firms under monopoly is |
A. One
B. Two
C. Three
D. Four
|
Test Questions
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