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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
If a firm does not produce anything then its variable cost is:
Question # 2
Marginal revenue product curve is called
Question # 3
All factors of production are variable in the:
Question # 4
Under monopoly the slopes of AR and MR are:
Question # 5
Firm's cost depends upon:
Question # 6
When Ac is rising:
Question # 7
Marginal revenue product curve is called
Question # 8
Wages of temporary labourers are:
Question # 9
Wages of permanent labourers are:
Question # 10
Tendency of demand curve of a factor of production is
Question # 11
Next best alternative use of resources is known as:
Question # 12
TC = TFC +:
Question # 13
At least one factor is fixed in:
Question # 14
Under perfect competition:
Question # 15
Cost of a firm on the optimum combination of factors of production 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 | Amount of money attained by selling marginal product is called |
A. Average revenue product
B. Marginal revenue product
C. Total revenue product
D. None of three
|
| 2 | MC cuts AC at: |
A. Maximum point
B. Minimum point
C. Increasing point
D. Decreasing point
|
| 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 | Next best alternative use of resources is known as: |
A. Implicit cost
B. Explicit cost
C. Opportunity cost
D. Sunk cost
|
| 5 | When AC is falling then: |
A. MC = AC
B. AVC = MC
C. MC > AC
D. MC < AC
|
| 6 | Firm's cost depends upon: |
A. Revenue
B. Supply
C. Price
D. Output
|
| 7 | Self owned resources are known as: |
A. Implicit cost
B. Explicit cost
C. Opportunity cost
D. Sunk cost
|
| 8 | 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
|
| 9 | All factors of production are variable in the: |
A. Market period
B. Long period
C. Short period
D. All of these
|
| 10 | Wages of permanent labourers are: |
A. Fixed cost
B. Marginal cost
C. Total cost
D. Variable cost
|
Test Questions
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