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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
Average revenue is equal to
Question # 2
When average cost falls, marginal cost is - - - - - - average cost
Question # 3
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Question # 4
When total revenue is maximum, marginal revenue is
Question # 5
The costs which increase with the increase in output and decrease with the decrease in output, are called
Question # 6
Wages of temporary labourers are
Question # 7
Which one of the following represents fixed cost
Question # 8
What is the reward of Organization ?
Question # 9
Marginal cost curve cuts average cost curve when average cost is
Question # 10
In perfect competition the average revenue curve is
Question # 11
In the short period, fixed cost curve has the tendency
Question # 12
Fixed costs are those costs of production which
Question # 13
Which curve represents demand curve also
Question # 14
Additional amount of money which a firm gets by selling an additional unit of output is called
Question # 15
Which one is comparatively the most important factor ?
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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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 | How many kinds of costs are in the short period |
A. Two
B. Three
C. Four
D. Five
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| 2 | The factor of production which is result of human struggle. |
A. Land
B. Labour
C. Capital
D. Organization
|
| 3 | Additional amount of money which a firm gets by selling an additional unit of output is called |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Revenue
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| 4 | When production of a firm increases then total variable costs |
A. Decrease
B. Increase
C. Remain constant
D. Do not change
|
| 5 | Short run cost curves are generally |
A. flatter
B. u shaped
C. saucer shaped
D. oval
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| 6 | Marginal cost curve cuts average cost curve when average cost is |
A. Maximum
B. Minimum
C. Increasing
D. Decreasing
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| 7 | Nature of inter-relationship of average revenue and marginal revenue under perfect competition is |
A. Average revenue remains more than marginal revenue
B. Average revenue remains less than marginal revenue
C. Marginal revenue remains less than average revenue
D. Average revenue remains equal to marginal revenue
|
| 8 | What is the reward of Labour ? |
A. Rent
B. Wage
C. Interest
D. Profit
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| 9 | Reward of capital is called |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 10 | The shape of average cost curve in the short period is |
A. Vertical
B. Horizontal
C. Positively sloping
D. Like English alphabet U
|
Test Questions