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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 kind of market, in which a single firm produces a single commodity which has no close substitute
Question # 2
The costs which increase with the increase in output and decrease with the decrease in output, are called
Question # 3
When average cost curve is rising, then marginal cost curve
Question # 4
What is the reward of Organization ?
Question # 5
Fixed costs are those costs of production which
Question # 6
Which factor is helpful for earning more income ?
Question # 7
Nature of inter-relationship of average revenue and marginal revenue under perfect competition is
Question # 8
Wages of temporary labourers are
Question # 9
Dividing total revenue by the sold units of output, is attained
Question # 10
All the factors production can be hired except.
Question # 11
How many kinds of costs are in the short period
Question # 12
When average cost increases, marginal cost is - - - - - - average cost
Question # 13
Dividing total fixed costs by the units of output, is attained
Question # 14
Price of raw material, wages of temporary labourers, transport costs etc,are called
Question # 15
Under monopoly average revenue curve remains ______ the marginal revenue 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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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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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 | In perfect competition the average revenue curve is |
A. Vertical
B. Horizontal
C. Rising
D. Declining
|
| 2 | The amount of money which a firm gets by selling a particular quantity of output, is called |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Fixed cost
|
| 3 | 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
|
| 4 | The shape of average cost curve in the short period is |
A. Vertical
B. Horizontal
C. Positively sloping
D. Like English alphabet U
|
| 5 | Under monopoly average revenue curve remains ______ the marginal revenue curve |
A. Below
B. Above
C. Parallel to
D. None of three
|
| 6 | When average cost curve is rising, then marginal cost curve |
A. Remains below it
B. Remains above it
C. Remains parallel to it
D. Is vertical
|
| 7 | Marginal cost curve cuts average cost curve when average cost is |
A. Maximum
B. Minimum
C. Increasing
D. Decreasing
|
| 8 | Which factor is helpful for earning more income ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 9 | When production of a firm increases then total variable costs |
A. Decrease
B. Increase
C. Remain constant
D. Do not change
|
| 10 | 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
|
Test Questions
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