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This online test contains MCQs about following topics:
. Marginal productivity theory . Comprehensive definition . Criticism on marginal productivity theory
ICOM Part 1 Economics Ch 8 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 8 "Principles of Economics Icom Part 1 English Medium Chapter 8 Online Test"
Try The MCQ's Test For Chapter 8 "Principles of Economics Icom Part 1 English Medium Chapter 8 Online Test"
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Total Questions15
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Time Allowed20
Principles of Economics Icom Part 1 English Medium Chapter 8 Online Test
00:00
Question # 1
According to which economist, it is difficult to find marginal product
Question # 2
When AC is falling then:
Question # 3
The rate change in total cost is:
Question # 4
Wages of permanent labourers are:
Question # 5
Tendency of demand curve of a factor of production is
Question # 6
In short average cost curve is:
Question # 7
Firm's cost depends upon:
Question # 8
Marginal productivity theory was presented by
Question # 9
Wages of temporary labourers are:
Question # 10
Marginal revenue product curve is called
Question # 11
Which law is applicable on production process under marginal productivity theory
Question # 12
MPP stand is
Question # 13
According to which economist, it is difficult to find marginal product of a factor of production
Question # 14
At least one factor is fixed in:
Question # 15
Under perfect competition:
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ICom Part 1 Principles of Economics ( English Medium) Chapter 8 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Production of the last unit of a factor of production is called |
A. Total product
B. Average product
C. Marginal product
D. Positive product
|
| 2 | According to which theory every factor of production gets the reward of its services equal to its marginal product |
A. Demand and supply theory
B. Liquidity preference theory
C. Marginal productivity theory
D. Uncertainty theory
|
| 3 | Self owned resources are known as: |
A. Implicit cost
B. Explicit cost
C. Opportunity cost
D. Sunk cost
|
| 4 | Under perfect competition: |
A. AR > MR
B. AR < MR
C. AR = MR
D. All of three
|
| 5 | MPP stand is |
A. Marginal price product
B. Marginal Physical Product
C. Marginal Physical Price
D. Marginal Perfect Price
|
| 6 | Wages of permanent labourers are: |
A. Fixed cost
B. Marginal cost
C. Total cost
D. Variable cost
|
| 7 | Long run average cost curve is: |
A. Planning curve
B. Envelope curve
C. Flatter curve
D. All of three
|
| 8 | All factors of production are variable in the: |
A. Market period
B. Long period
C. Short period
D. All of these
|
| 9 | According to which economist, some factors are indivisble |
A. Adam Smith
B. Marshall
C. Davenport
D. Hobson
|
| 10 | Which law is applicable on production process under marginal productivity theory |
A. Law of increasing return
B. Law of constant return
C. Law of decreasing return
D. Law of decreasing cost
|
Test Questions
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