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CONTENTS
English
Economics
History & Civics
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Question-1
Under perfect Competition, the firm can sell ___________.
(A)
Only same quantity
(B)
lower quantity
(C)
Additional quantity
(D)
none of these
Question-2
The issue of opportunity comes due to _________.
(A)
scarce resources
(B)
resources have alternative use
(C)
a and b
(D)
none of these
Question-3
MC cuts the AC at _______.
(A)
Top side
(B)
minimum pint form below
(C)
minimum point from above
(D)
none of these
Question-4
Economies and diseconomies of scale are classified into _________.
(A)
Internal economies and diseconomies
(B)
External economies and diseconomies
(C)
a and b
(D)
none of thees
Question-5
AR is same as _________.
(A)
Cost
(B)
Price
(C)
Yield
(D)
None of these
Question-6
TR/Q stands for __________.
(A)
Marginal revenue
(B)
Average revenue
(C)
Total revenue
(D)
All of these
Question-7
_________ is an example of fixed cost.
(A)
Property tax
(B)
license fees
(C)
salary of the permanent staff
(D)
all of these
Question-8
The MC is ________ sloped in the initial stages
(A)
Negatively
(B)
positively
(C)
Parallel
(D)
none of these
Question-9
An increase in the fixed costs of the firm results in _________________.
(A)
Change in marginal cost but not the total costs
(B)
Change in variable costs but not marginal costs
(C)
change in marginal costs but not variable costs
(D)
Change in marginal cost and total costs.
Question-10
Opportunity costs are otherwise known as ________.
(A)
Spill over costs
(B)
money costs
(C)
Alternative costs
(D)
Social costs
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Plus 2 Humanities
ICSE/ISC
Practice in Related Chapters
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Cost and Revenue Analysis
FORMS OF MARKET
EQUILIBRIUM OF FIRM
Determination of Equilibrium Price and Output Under Perfect Competition Monopoly and Monopolistic
Equilibrium Price: Market Price
Nature of Goods and Services Produced
National Income Aggregates
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Fiscal Policy and Deficit Financing
The Theory of Distribution: Rent, Interest and Profit
National Income and Circular Flow of Income
Measurement of National Income
- GOVERNMENT BUDGET
PUBLIC FINANCE;TAXATION
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