ICOM Part 1 Principles of Economics English Medium Chapter 9 MCQ's Test

11th Class Principles of Economics English Medium Online MCQ Test for Chapter 9 (National Income)

ICOM Part 1 Principles of Economics English Medium Chapter 9 MCQ's Test

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ICOM Part 1 Principles of Economics Chapter Wise Test (English Medium)

11th Class Principles of Economics English Medium Online MCQ Test for Chapter 9 (National Income)

Sr. # Questions Answers Choice
1 A firm gains abnormal profit, when:
  • A. TR = TC
  • B. TR > TC
  • C. TR < TC
  • D. MC = MR
2 A firm suffers abnormal losse, when:
  • A. AC = AR
  • B. AVC = AR
  • C. AVC < AR
  • D. AVC > AR
3 National income is total of
  • A. Incomes of all entrepreneurs of the country
  • B. Incomes of all industrialists of the country
  • C. Incomes of all salaried persons of the country
  • D. Incomes of all the people of the country
4 National income means the income
  • A. Which central government earns during a year
  • B. Which provincial government earn during a year
  • C. Total wealth of a country
  • D. Rewards which the factors of production get during a year
5 Which one of the following is not called Gross national product
  • A. Economic national product
  • B. Joint national product
  • C. Composite national product
  • D. All the three
6 Which one of the following is not included in the methods of measuring national income
  • A. Method of total according to market prices
  • B. Method of total of incomes
  • C. Method of total of domestic necessities and desires
  • D. Method of total expenditures
7 Method of measuring national income
  • A. National income=Gross national product - depreciation allowance
  • B. National income= Net national product - Indirect costs
  • C. National income= Net national product + subsidies
  • D. National income= Net national product - indirect taxes + subsidies
8 Under monopoly the price is always equal to:
  • A. AR
  • B. MR
  • C. MC
  • D. AVC
9 ------------------- are added in national income
  • A. Depreciation allowance
  • B. Subsidies
  • C. Indirect taxes
  • D. Direct taxes
10 "Quantity of goods and services which is consumed during a year is called national income". This definition of national income is stated by the economist
  • A. Marshall
  • B. Pigou
  • C. Adam smith
  • D. Fisher

Top Scorers of Principles of Economics Icom Part 1 English Medium Chapter 9 Online Test

J

Jiya 7287

Lahore10 - May - 2025

12/15
01 Mins 58 Sec
J

Jiya 7287

Lahore10 - May - 2025

10/15
04 Mins 06 Sec

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