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This online test contains MCQs about following topics:
. Marginal productivity theory . Comprehensive definition . Criticism on marginal productivity theory
ICOM Part 1 Economics Ch 8 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 8 "Principles of Economics Icom Part 1 English Medium Chapter 8 Online Test"
Try The MCQ's Test For Chapter 8 "Principles of Economics Icom Part 1 English Medium Chapter 8 Online Test"
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Total Questions15
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Time Allowed20
Principles of Economics Icom Part 1 English Medium Chapter 8 Online Test
00:00
Question # 1
Production of the last unit of a factor of production is called
Question # 2
According to which economist, it is difficult to find marginal product
Question # 3
The rate change in total cost is:
Question # 4
Fixed cost consists of:
Question # 5
MC cuts AC at:
Question # 6
Which law is applicable on production process under marginal productivity theory
Question # 7
Cost of a firm on the optimum combination of factors of production is
Question # 8
AR curve is also called:
Question # 9
TC = TFC +:
Question # 10
Marginal revenue product curve is called
Question # 11
Self owned resources are known as:
Question # 12
All factors of production are variable in the:
Question # 13
Demand for factors of production is
Question # 14
Next best alternative use of resources is known as:
Question # 15
Tendency of demand curve of a factor of production is
11th Principle of Economics Chapter 8 Test
Here you can prepare 11th Principle of Economics English Medium Chapter 8 Resource Pricing Test. Click the button for 100% free full practice test.
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ICom Part 1 Principles of Economics ( English Medium) Chapter 8 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Demand for factors of production is |
A. Direct
B. Derived
C. Positive
D. Negative
|
| 2 | Under perfect competition average revenue is equal to: |
A. Average cost
B. Price
C. Marginal revenue
D. Both b and c
|
| 3 | AR curve is also called: |
A. Supply curve
B. Demand curve
C. Utility curve
D. Cost curve
|
| 4 | Fixed cost consists of: |
A. Rent
B. Salaries
C. Interest
D. All of them
|
| 5 | Which law is applicable on production process under marginal productivity theory |
A. Law of increasing return
B. Law of constant return
C. Law of decreasing return
D. Law of decreasing cost
|
| 6 | Under perfect competition: |
A. AR > MR
B. AR < MR
C. AR = MR
D. All of three
|
| 7 | Tendency of demand curve of a factor of production is |
A. Positive
B. Negative
C. Zero
D. Horizontal
|
| 8 | MPP stand is |
A. Marginal price product
B. Marginal Physical Product
C. Marginal Physical Price
D. Marginal Perfect Price
|
| 9 | Wages of temporary labourers are: |
A. Fixed cost
B. Marginal cost
C. Total cost
D. Variable cost
|
| 10 | Under monopoly the slopes of AR and MR are: |
A. Zero
B. Positive
C. Negative
D. None of three
|
Test Questions