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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
Next best alternative use of resources is known as:
Question # 2
The rate change in total cost is:
Question # 3
When Ac is rising:
Question # 4
In short average cost curve is:
Question # 5
Long run average cost curve is:
Question # 6
Tendency of demand curve of a factor of production is
Question # 7
Under monopoly the slopes of AR and MR are:
Question # 8
Cost of a firm on the optimum combination of factors of production is
Question # 9
Fixed cost consists of:
Question # 10
Production of the last unit of a factor of production is called
Question # 11
Which law is applicable on production process under marginal productivity theory
Question # 12
Wages of permanent labourers are:
Question # 13
With the increase of output, which cost of production increases:
Question # 14
Marginal revenue product curve is called
Question # 15
TC = TFC +:
11th Principle of Economics Chapter 8 Test
Here you can prepare 11th Principle of Economics English Medium Chapter 8 Resource Pricing Test. Click the button for 100% free full practice test.
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ICom Part 1 Principles of Economics ( English Medium) Chapter 8 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Self owned resources are known as: |
A. Implicit cost
B. Explicit cost
C. Opportunity cost
D. Sunk cost
|
| 2 | The rate change in total cost is: |
A. TR
B. MC
C. MR
D. TC
|
| 3 | All factors of production are variable in the: |
A. Market period
B. Long period
C. Short period
D. All of these
|
| 4 | Wages of permanent labourers are: |
A. Fixed cost
B. Marginal cost
C. Total cost
D. Variable cost
|
| 5 | Demand for factors of production is |
A. Direct
B. Derived
C. Positive
D. Negative
|
| 6 | Under monopoly the slopes of AR and MR are: |
A. Zero
B. Positive
C. Negative
D. None of three
|
| 7 | 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
|
| 8 | Production of the last unit of a factor of production is called |
A. Total product
B. Average product
C. Marginal product
D. Positive product
|
| 9 | According to which economist, it is difficult to find marginal product of a factor of production |
A. Marshall and pigou
B. Adam Smith and Malthus
C. Keynes
D. Taussing and Davenport
|
| 10 | In short average cost curve is: |
A. Saucer shaped
B. Negative slope
C. U shaped
D. Flatter
|
Test Questions
