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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
Wages of permanent labourers are:
Question # 2
Firm's cost depends upon:
Question # 3
According to which economist, some factors are indivisble
Question # 4
Marginal revenue product curve is called
Question # 5
AR curve is also called:
Question # 6
Fixed cost consists of:
Question # 7
Cost of a firm on the optimum combination of factors of production is
Question # 8
Self owned resources are known as:
Question # 9
Production of the last unit of a factor of production is called
Question # 10
Long run average cost curve is:
Question # 11
MC cuts AC at:
Question # 12
In short average cost curve is:
Question # 13
Marginal productivity theory was presented by
Question # 14
Demand for factors of production is
Question # 15
Under monopoly the slopes of AR and MR are:
11th Principle of Economics Chapter 8 Test
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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 | If a firm does not produce anything then its variable cost is: |
A. Minimum
B. Negative
C. Maximum
D. Zero
|
| 3 | Marginal productivity theory was presented by |
A. Adam Smith and Malthus
B. Marshall and J.B Clark
C. Robbins and Keyness
D. Pigou and Cannon
|
| 4 | MPP stand is |
A. Marginal price product
B. Marginal Physical Product
C. Marginal Physical Price
D. Marginal Perfect Price
|
| 5 | Long run average cost curve is: |
A. Planning curve
B. Envelope curve
C. Flatter curve
D. All of three
|
| 6 | MC cuts AC at: |
A. Maximum point
B. Minimum point
C. Increasing point
D. Decreasing point
|
| 7 | When Ac is rising: |
A. AC = MC
B. MC > AC
C. MC < AC
D. Both (b) and (c)
|
| 8 | TC = TFC +: |
A. MC
B. AR
C. TVC
D. TAC
|
| 9 | The rate change in total cost is: |
A. TR
B. MC
C. MR
D. TC
|
| 10 | Under perfect competition average revenue is equal to: |
A. Average cost
B. Price
C. Marginal revenue
D. Both b and c
|
Test Questions
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