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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
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Question # 1
Marginal productivity theory was presented by
Question # 2
Production of the last unit of a factor of production is called
Question # 3
According to which theory every factor of production gets the reward of its services equal to its marginal product
Question # 4
All factors of production are variable in the:
Question # 5
AR curve is also called:
Question # 6
Next best alternative use of resources is known as:
Question # 7
When Ac is rising:
Question # 8
Firm's cost depends upon:
Question # 9
According to which economist, it is difficult to find marginal product of a factor of production
Question # 10
Marginal revenue product curve is called
Question # 11
At least one factor is fixed in:
Question # 12
Under perfect competition average revenue is equal to:
Question # 13
Wages of permanent labourers are:
Question # 14
Under perfect competition:
Question # 15
According to which economist, it is difficult to find marginal product
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 | Amount of money attained by selling marginal product is called |
A. Average revenue product
B. Marginal revenue product
C. Total revenue product
D. None of three
|
| 2 | 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
|
| 3 | MC cuts AC at: |
A. Maximum point
B. Minimum point
C. Increasing point
D. Decreasing point
|
| 4 | When AC is falling then: |
A. MC = AC
B. AVC = MC
C. MC > AC
D. MC < AC
|
| 5 | At least one factor is fixed in: |
A. Market period
B. Long period
C. Short period
D. All of three
|
| 6 | Under monopoly the slopes of AR and MR are: |
A. Zero
B. Positive
C. Negative
D. None of three
|
| 7 | Long run average cost curve is: |
A. Planning curve
B. Envelope curve
C. Flatter curve
D. All of three
|
| 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 | The rate change in total cost is: |
A. TR
B. MC
C. MR
D. TC
|
| 10 | Marginal revenue product is the amount of money attained by selling |
A. Average product
B. Marginal product
C. Total product
D. None of these
|
Test Questions