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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 is not included in variable cost
Question # 3
To increase profit a firm minimises
Question # 4
Dividing total revenue by the sold units of output, is attained
Question # 5
When average cost increases, marginal cost is - - - - - - average cost
Question # 6
Average revenue is equal to
Question # 7
What is the reward of Labour ?
Question # 8
Nature of inter-relationship of average revenue and marginal revenue under perfect competition is
Question # 9
Number of firms under monopoly is
Question # 10
One of the following is not included in implicit cost
Question # 11
Dividing total fixed costs by the units of output, is attained
Question # 12
The slope of MR curve in monopoly is
Question # 13
Dividing total variable costs by the units of output, is attained
Question # 14
Which factor is helpful for earning more income ?
Question # 15
Reward of Land is called.
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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M Muhammad Hammad Shekhani 30 - Jun - 2021 02 Min 53 Sec 14/15 -
S Subtain Ahmed Raza 21 - Jul - 2023 02 Min 57 Sec 14/15 -
S Samar 14 - Jul - 2021 04 Min 01 Sec 14/15 -
N Naveera 24 - May - 2021 04 Min 47 Sec 14/15 -
H Hamza 18 - Aug - 2021 05 Min 16 Sec 14/15 -
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A Abeer 08 - Feb - 2024 01 Min 49 Sec 13/15 -
U Unknown 21 - Jul - 2023 01 Min 57 Sec 13/15 -
S Sania Butt 03 - Jun - 2024 02 Min 19 Sec 13/15 -
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A Anfal 02 - Sep - 2021 04 Min 10 Sec 13/15 -
N niimra naeem 03 - Nov - 2018 04 Min 25 Sec 13/15 -
S Saleem 18 - Jan - 2018 01 Min 37 Sec 12/15 -
Z Zayn 27 - Jul - 2021 02 Min 12 Sec 12/15 -
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 | When a firm's average total cost is equal to price, then it is called as |
A. Normal profit
B. Abnormal profit
C. Normal loss
D. Abnormal loss
|
| 2 | Dividing total fixed costs by the units of output, is attained |
A. Average fixed cost
B. Average variable cost
C. Average cost
D. Marginal cost
|
| 3 | When total revenue is maximum, marginal revenue is |
A. More
B. Less
C. Constant
D. Zero
|
| 4 | Which one factor is free gift of nature ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 5 | Under monopoly average revenue curve remains the marginal revenue curve |
A. Below
B. Above
C. Parallel
D. None of these
|
| 6 | Under perfect competition average revenue is always - - - marginal revenue |
A. Equal to
B. Less than
C. More than
D. None of three
|
| 7 | The demand curve for monopolist is also called |
A. Total revenue
B. Average revenue
C. Marginal revenue
D. Zero revenue
|
| 8 | Short run cost curves are generally |
A. flatter
B. u shaped
C. saucer shaped
D. oval
|
| 9 | Price of raw material, wages of temporary labourers, transport costs etc,are called |
A. Fixed costs
B. Variable costs
C. Marginal cost
D. Total cost
|
| 10 | When average cost increases, marginal cost is - - - - - - average cost |
A. Less than
B. More than
C. Equal to
D. None of three
|
Test Questions
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