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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
Fixed cost consists of:
Question # 2
Marginal productivity theory was presented by
Question # 3
Marginal revenue product curve is called
Question # 4
Amount of money attained by selling marginal product is called
Question # 5
When Ac is rising:
Question # 6
Marginal revenue product curve is called
Question # 7
According to which economist, it is difficult to find marginal product
Question # 8
Demand for factors of production is
Question # 9
Under monopoly the slopes of AR and MR are:
Question # 10
Production of the last unit of a factor of production is called
Question # 11
All factors of production are variable in the:
Question # 12
Long run average cost curve is:
Question # 13
Which law is applicable on production process under marginal productivity theory
Question # 14
With the increase of output, which cost of production increases:
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 | The rate change in total cost is: |
A. TR
B. MC
C. MR
D. TC
|
| 2 | In short average cost curve is: |
A. Saucer shaped
B. Negative slope
C. U shaped
D. Flatter
|
| 3 | Tendency of demand curve of a factor of production is |
A. Positive
B. Negative
C. Zero
D. Horizontal
|
| 4 | Marginal revenue product is the amount of money attained by selling |
A. Average product
B. Marginal product
C. Total product
D. None of these
|
| 5 | Wages of permanent labourers are: |
A. Fixed cost
B. Marginal cost
C. Total cost
D. Variable cost
|
| 6 | 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
|
| 7 | Under monopoly the slopes of AR and MR are: |
A. Zero
B. Positive
C. Negative
D. None of three
|
| 8 | Next best alternative use of resources is known as: |
A. Implicit cost
B. Explicit cost
C. Opportunity cost
D. Sunk cost
|
| 9 | 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
|
| 10 | Firm's cost depends upon: |
A. Revenue
B. Supply
C. Price
D. Output
|
Test Questions