11th class Principles of Economics chapter 6 online mcq test with answers for I.Com part 1 Principles of Economics chapter 6(Firm's Costs of Production and Revenues)

Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test

Sr. #	Questions	Answers Choice
1	The costs which increase with the increase in output and decrease with the decrease in output, are called	Variable costs Fixed costs Average costs Marginal cost
2	The costs which the firm has to bear in every condition in the short period, are called	Total costs Fixed costs Variable costs Marginal costs
3	One of the following is not included in implicit cost	Interest of entrepreneur's own capital Rent of building Reward of entrepreneur's own labour Reward of entrepreneur's own land
4	One of the following is not included in explicit cost	Wages of labourers Reward of entrepreneur's personal labour Price of raw material Interest of capital