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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
TC = TFC +:
Question # 2
Amount of money attained by selling marginal product is called
Question # 3
According to which economist, some factors are indivisble
Question # 4
Production of the last unit of a factor of production is called
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
Under perfect competition average revenue is equal to:
Question # 9
The rate change in total cost is:
Question # 10
With the increase of output, which cost of production increases:
Question # 11
MC cuts AC at:
Question # 12
Tendency of demand curve of a factor of production is
Question # 13
Long run average cost curve is:
Question # 14
If a firm does not produce anything then its variable cost is:
Question # 15
According to which theory every factor of production gets the reward of its services equal to its 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.
Top Scorers Of Chapter 8 "Principles of Economics Icom Part 1 English Medium Chapter 8 Online Test" MCQ`s Test
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A Aliya hassan 05 - Dec - 2020 03 Min 00 Sec 15/15 -
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A Asif Iqbal 20 - Apr - 2023 04 Min 11 Sec 9/15 -
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A Ali hamza 25 - Dec - 2018 02 Min 56 Sec 8/15 -
N niimra naeem 03 - Nov - 2018 04 Min 08 Sec 8/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 8 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Next best alternative use of resources is known as: |
A. Implicit cost
B. Explicit cost
C. Opportunity cost
D. Sunk cost
|
| 2 | Production of the last unit of a factor of production is called |
A. Total product
B. Average product
C. Marginal product
D. Positive product
|
| 3 | According to which economist, some factors are indivisble |
A. Adam Smith
B. Marshall
C. Davenport
D. Hobson
|
| 4 | Under perfect competition average revenue is equal to: |
A. Average cost
B. Price
C. Marginal revenue
D. Both b and c
|
| 5 | In short average cost curve is: |
A. Saucer shaped
B. Negative slope
C. U shaped
D. Flatter
|
| 6 | Wages of permanent labourers are: |
A. Fixed cost
B. Marginal cost
C. Total cost
D. Variable cost
|
| 7 | 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
|
| 8 | AR curve is also called: |
A. Supply curve
B. Demand curve
C. Utility curve
D. Cost curve
|
| 9 | Wages of temporary labourers are: |
A. Fixed cost
B. Marginal cost
C. Total cost
D. Variable cost
|
| 10 | Marginal revenue product curve is called |
A. Demand curve of firm
B. Supply curve of firm
C. Demand curve of industry
D. Supply curve of industry
|
Test Questions
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