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This online test contains MCQs about following topics:
. Firm's costs of production . Kinds of costs according to payment . Short run costs . Concepts of pre unit costs of output . Interrelationship of average cost and marginal cost . Long run costs . Derivation of long run average cost curve . Derivation of long run marginal cost curve
ICOM Part 1 Economics Ch 6 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 6 "Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test"
Try The MCQ's Test For Chapter 6 "Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test"
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Total Questions15
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Time Allowed20
Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test
00:00
Question # 1
The costs which the firm has to bear in every condition in the short period, are called
Question # 2
Which one is immobile factor ?
Question # 3
In perfect competition the average revenue curve is
Question # 4
Which one factor is free gift of nature ?
Question # 5
Additional amount of money which a firm gets by selling an additional unit of output is called
Question # 6
Fixed costs are those costs of production which
Question # 7
When average cost falls, marginal cost is - - - - - - average cost
Question # 8
When production of a firm increases then total variable costs
Question # 9
When average cost falls marginal cost is ---------------- average cost
Question # 10
Which curve represents demand curve also
Question # 11
In the short period, fixed cost curve has the tendency
Question # 12
The costs which increase with the increase in output and decrease with the decrease in output, are called
Question # 13
When a firm's average total cost is equal to price, then it is called as
Question # 14
How many kinds of costs are in the short period
Question # 15
When average cost curve is rising, then marginal cost curve
11th Principle of Economics Chapter 6 Test
Here you can prepare 11th Principle of Economics English Medium Chapter 6 Firm's Costs of Production and Revenues Test. Click the button for 100% free full practice test.
Top Scorers Of Chapter 6 "Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test" MCQ`s Test
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S Subtain Ahmed Raza 21 - Jul - 2023 02 Min 57 Sec 14/15 -
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H HaXEeb RajPut 26 - Aug - 2021 03 Min 30 Sec 12/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 6 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | What is the reward of Organization ? |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 2 | Which on factor is the basic factor ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 3 | Marginal cost curve cuts average cost curve when average cost is |
A. Maximum
B. Minimum
C. Increasing
D. Decreasing
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| 4 | Which is the Demand Curve of a frim |
A. Average Revenue Curve
B. Marginal Revenue Curve
C. Total Revenue Curve
D. Average cost curve
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| 5 | To increase profit a firm minimises |
A. revenues
B. costs
C. demand
D. supply
|
| 6 | One of the following is a fixed capital: |
A. Raw material
B. Machinery
C. Saving certificate
D. None of these
|
| 7 | Rent of the building, interest of the capital and salaries of the permanent staff etc are called |
A. Fixed costs
B. Variable
C. Marginal cost
D. Average cost
|
| 8 | Dividing total costs by the units of output is attained |
A. Average fixed cost
B. Average cost
C. Average variable cost
D. Marginal cost
|
| 9 | Which one is immobile factor ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 10 | All the factors production can be hired except. |
A. Land
B. Labour
C. Capital
D. Organization
|
Test Questions