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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 one is comparatively the most important factor ?
Question # 2
Dividing total costs by the units of output is attained
Question # 3
Which is the Demand Curve of a frim
Question # 4
Wages of temporary labourers are
Question # 5
How many kinds of costs are in the short period
Question # 6
When total revenue is maximum, marginal revenue is
Question # 7
Demand curve of a monopolist has the shape
Question # 8
Which one is immobile factor ?
Question # 9
One of the following is considered as capital:
Question # 10
When a firm's average total cost is equal to price, then it is called as
Question # 11
The costs which increase with the increase in output and decrease with the decrease in output, are called
Question # 12
The shape of average cost curve in the short period is
Question # 13
The additional cost which a firm has to bear in order to produce additional unit of output, are called
Question # 14
To increase profit a firm minimises
Question # 15
When average cost falls, marginal cost is - - - - - - average cost
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 -
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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 -
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N niimra naeem 03 - Nov - 2018 04 Min 25 Sec 13/15 -
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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 | Fixed costs are those costs of production which |
A. Rise with quantity of output
B. Do not change with any amount of production
C. Decline with rising production
D. None of these
|
| 2 | Number of firms under monopoly is |
A. One
B. Two
C. Three
D. Four
|
| 3 | The costs which increase with the increase in output and decrease with the decrease in output, are called |
A. Variable costs
B. Fixed costs
C. Average costs
D. Marginal cost
|
| 4 | Which one factor is free gift of nature ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 5 | Under perfect competition average revenue is always - - - marginal revenue |
A. Equal to
B. Less than
C. More than
D. None of three
|
| 6 | Demand curve of a monopolist has the shape |
A. Falls from left to right
B. Rises from left to right
C. Remains below MR curve
D. Remains parallel to ox-axis
|
| 7 | Which factor is helpful for earning more income ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 8 | The additional cost which a firm has to bear in order to produce additional unit of output, are called |
A. Average cost
B. Marginal cost
C. Fixed costs
D. Variable costs
|
| 9 | One of the following is not included in implicit cost |
A. Interest of entrepreneur's own capital
B. Rent of building
C. Reward of entrepreneur's own labour
D. Reward of entrepreneur's own land
|
| 10 | Dividing total revenue by the sold units of output, is attained |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Average cost
|
Test Questions