11th Class ICom Part 1 Principles of Economics Chapter Wise Online MCQ Test With Answers PDF English Medium

Principles of Economics Icom Part 1 English Medium Online Test

Sr. #	Questions	Answers Choice
1	Net national product is found by	Subtracting tax from gross national product Subtracting transfer payments form gross national product Subtracting depreciation allowance from gross national product Subtracting subsidies from gross national product
2	Gross national product means	Total of price of all goods produced in a country in year Total of price of all consumer goods produced in the economy during a year Total of goods and services produced in the economy during a year Total of monetary value of goods and services produced during a year in the economy
3	Marginal revenue product is the amount of money attained by selling	Average product Marginal product Total product None of these
4	Marginal revenue product curve is called	Demand curve of firm Supply curve of firm Demand curve of industry Supply curve of industry
5	According to which economist, it is difficult to find marginal product of a factor of production	Marshall and pigou Adam Smith and Malthus Keynes Taussing and Davenport
6	Tendency of demand curve of a factor of production is	Positive Negative Zero Horizontal
7	Production of the last unit of a factor of production is called	Total product Average product Marginal product Positive product
8	Demand for factors of production is	Direct Derived Positive Negative
9	Amount of money attained by selling marginal product is called	Average revenue product Marginal revenue product Total revenue product None of three
10	Cost of a firm on the optimum combination of factors of production is	Minimum Maximum Reasonable Positive
11	Which law is applicable on production process under marginal productivity theory	Law of increasing return Law of constant return Law of decreasing return Law of decreasing cost
12	Marginal revenue product curve is called	Demand curve of the firm Supply curve of the firm Demand curve of the industry Supply curve of industry
13	According to which economist, some factors are indivisble	Adam Smith Marshall Davenport Hobson
14	According to which economist, it is difficult to find marginal product	Robbins and Keynes Marshall and pigou Adam Smith and Mathuls Taussing and Davenport
15	According to which theory every factor of production gets the reward of its services equal to its marginal product	Demand and supply theory Liquidity preference theory Marginal productivity theory Uncertainty theory

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