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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
The demand curve for monopolist is also called
Question # 2
Dividing total costs by the units of output is attained
Question # 3
Marginal cost curve cuts average cost curve when average cost is
Question # 4
Dividing total fixed costs by the units of output, is attained
Question # 5
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Question # 6
Which one of the following represents fixed cost
Question # 7
Which one is comparatively the most important factor ?
Question # 8
How many kinds of costs are in the short period
Question # 9
Dividing total variable costs by the units of output, is attained
Question # 10
When average cost is minimum, marginal cost is - - - - - - - - average cost
Question # 11
One of the following is considered as capital:
Question # 12
The additional cost which a firm has to bear in order to produce additional unit of output, are called
Question # 13
The amount of money which a firm gets by selling a particular quantity of output, is called
Question # 14
Average cost curve is in short run
Question # 15
Which one factor is free gift of nature ?
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 factor is helpful for earning more income ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 2 | Which on factor is the basic factor ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 3 | One of the following is a fixed capital: |
A. Raw material
B. Machinery
C. Saving certificate
D. None of these
|
| 4 | 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
|
| 5 | 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
|
| 6 | 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
|
| 7 | To increase profit a firm minimises |
A. revenues
B. costs
C. demand
D. supply
|
| 8 | 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
|
| 9 | Dividing total fixed costs by the units of output, is attained |
A. Average fixed cost
B. Average variable cost
C. Average cost
D. Marginal cost
|
| 10 | The additional cost which a firm has to bear in order to produce additional unit of output, are called |
A. Average cost
B. Marginal cost
C. Fixed costs
D. Variable costs
|
Test Questions
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