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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
Reward of capital is called
Question # 2
Which one is immobile factor ?
Question # 3
Reward of Land is called.
Question # 4
Nature of inter-relationship of average revenue and marginal revenue under perfect competition is
Question # 5
The costs which the firm has to bear in every condition in the short period, are called
Question # 6
Short run cost curves are generally
Question # 7
Which curve represents demand curve also
Question # 8
Which factor combines other three factors ?
Question # 9
When a firm's average total cost is equal to price, then it is called as
Question # 10
One of the following is a fixed capital:
Question # 11
In perfect competition the average revenue curve is
Question # 12
How many kinds of costs are in the short period
Question # 13
All the factors production can be hired except.
Question # 14
One of the following is considered as capital:
Question # 15
The additional cost which a firm has to bear in order to produce additional unit of 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 -
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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 | Which one of the following represents fixed cost |
A. Price of raw material
B. Wages
C. Capital goods
D. Wages of permanent labour
|
| 2 | Slope of average revenue and marginal revenue cures under monopoly is |
A. positive
B. negative
C. zero
D. none of three
|
| 3 | How many kinds of costs are in the short period |
A. Two
B. Three
C. Four
D. Five
|
| 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 | Which one is comparatively the most important factor ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 6 | When a firm's average total cost is equal to price, then it is called as |
A. Normal profit
B. Abnormal profit
C. Normal loss
D. Abnormal loss
|
| 7 | One of the following is a fixed capital: |
A. Raw material
B. Machinery
C. Saving certificate
D. None of these
|
| 8 | 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
|
| 9 | Reward of Land is called. |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 10 | Reward of capital is called |
A. Rent
B. Wage
C. Interest
D. Profit
|
Test Questions