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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
The rate change in total cost is:
Question # 2
Which law is applicable on production process under marginal productivity theory
Question # 3
Tendency of demand curve of a factor of production is
Question # 4
AR curve is also called:
Question # 5
All factors of production are variable in the:
Question # 6
With the increase of output, which cost of production increases:
Question # 7
Wages of permanent labourers are:
Question # 8
Marginal revenue product is the amount of money attained by selling
Question # 9
When Ac is rising:
Question # 10
MC cuts AC at:
Question # 11
Long run average cost curve is:
Question # 12
Under perfect competition average revenue is equal to:
Question # 13
According to which economist, it is difficult to find marginal product
Question # 14
Firm's cost depends upon:
Question # 15
According to which economist, it is difficult to find marginal product of a factor of production
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 | Under perfect competition average revenue is equal to: |
A. Average cost
B. Price
C. Marginal revenue
D. Both b and c
|
| 2 | The rate change in total cost is: |
A. TR
B. MC
C. MR
D. TC
|
| 3 | Self owned resources are known as: |
A. Implicit cost
B. Explicit cost
C. Opportunity cost
D. Sunk cost
|
| 4 | Wages of permanent labourers are: |
A. Fixed cost
B. Marginal cost
C. Total cost
D. Variable cost
|
| 5 | Production of the last unit of a factor of production is called |
A. Total product
B. Average product
C. Marginal product
D. Positive product
|
| 6 | According to which economist, it is difficult to find marginal product |
A. Robbins and Keynes
B. Marshall and pigou
C. Adam Smith and Mathuls
D. Taussing and Davenport
|
| 7 | If a firm does not produce anything then its variable cost is: |
A. Minimum
B. Negative
C. Maximum
D. Zero
|
| 8 | Marginal productivity theory was presented by |
A. Adam Smith and Malthus
B. Marshall and J.B Clark
C. Robbins and Keyness
D. Pigou and Cannon
|
| 9 | When AC is falling then: |
A. MC = AC
B. AVC = MC
C. MC > AC
D. MC < AC
|
| 10 | All factors of production are variable in the: |
A. Market period
B. Long period
C. Short period
D. All of these
|
Test Questions