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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
All factors of production are variable in the:
Question # 2
Marginal revenue product is the amount of money attained by selling
Question # 3
According to which economist, some factors are indivisble
Question # 4
Wages of permanent labourers are:
Question # 5
Next best alternative use of resources is known as:
Question # 6
Tendency of demand curve of a factor of production is
Question # 7
Cost of a firm on the optimum combination of factors of production is
Question # 8
Under monopoly the slopes of AR and MR are:
Question # 9
Under perfect competition:
Question # 10
When AC is falling then:
Question # 11
Long run average cost curve is:
Question # 12
AR curve is also called:
Question # 13
Marginal productivity theory was presented by
Question # 14
TC = TFC +:
Question # 15
MPP stand is
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 | Under perfect competition average revenue is equal to: |
A. Average cost
B. Price
C. Marginal revenue
D. Both b and c
|
| 2 | When Ac is rising: |
A. AC = MC
B. MC > AC
C. MC < AC
D. Both (b) and (c)
|
| 3 | In short average cost curve is: |
A. Saucer shaped
B. Negative slope
C. U shaped
D. Flatter
|
| 4 | AR curve is also called: |
A. Supply curve
B. Demand curve
C. Utility curve
D. Cost curve
|
| 5 | At least one factor is fixed in: |
A. Market period
B. Long period
C. Short period
D. All of three
|
| 6 | Self owned resources are known as: |
A. Implicit cost
B. Explicit cost
C. Opportunity cost
D. Sunk cost
|
| 7 | Tendency of demand curve of a factor of production is |
A. Positive
B. Negative
C. Zero
D. Horizontal
|
| 8 | When AC is falling then: |
A. MC = AC
B. AVC = MC
C. MC > AC
D. MC < AC
|
| 9 | All factors of production are variable in the: |
A. Market period
B. Long period
C. Short period
D. All of these
|
| 10 | Firm's cost depends upon: |
A. Revenue
B. Supply
C. Price
D. Output
|
Test Questions