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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
Which on factor is the basic factor ?
Question # 2
One of the following is not land:
Question # 3
Total expenditures which a firm bear to produce a particular quantity of output
Question # 4
When average cost increases, marginal cost is - - - - - - average cost
Question # 5
Under monopoly average revenue curve remains the marginal revenue curve
Question # 6
Reward of Land is called.
Question # 7
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Question # 8
Which one factor is free gift of nature ?
Question # 9
In the short period, fixed cost curve has the tendency
Question # 10
Additional amount of money which a firm gets by selling an additional unit of output is called
Question # 11
All the factors production can be hired except.
Question # 12
When average cost falls, marginal cost is - - - - - - average cost
Question # 13
One of the following is a fixed capital:
Question # 14
Price of raw material, wages of temporary labourers, transport costs etc,are called
Question # 15
When a firm's average total cost is equal to price, then it is called as
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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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 | Dividing total costs by the units of output is attained |
A. Average fixed cost
B. Average cost
C. Average variable cost
D. Marginal cost
|
| 2 | The costs which the firm has to bear in every condition in the short period, are called |
A. Total costs
B. Fixed costs
C. Variable costs
D. Marginal costs
|
| 3 | Which is the Demand Curve of a frim |
A. Average Revenue Curve
B. Marginal Revenue Curve
C. Total Revenue Curve
D. Average cost curve
|
| 4 | When production of a firm increases then total variable costs |
A. Decrease
B. Increase
C. Remain constant
D. Do not change
|
| 5 | When average cost falls marginal cost is ---------------- average cost |
A. More than
B. Less than
C. Equal to
D. A and C
|
| 6 | The shape of average cost curve in the short period is |
A. Vertical
B. Horizontal
C. Positively sloping
D. Like English alphabet U
|
| 7 | Which factor is helpful for earning more income ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 8 | In the short period, fixed cost curve has the tendency |
A. Parallel to ox-axis
B. Parallel to oy-axis
C. Positive
D. Negative
|
| 9 | Which one factor is free gift of nature ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 10 | What is the reward of Labour ? |
A. Rent
B. Wage
C. Interest
D. Profit
|
Test Questions