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11th Standard Economics Cost and Revenue Analysis English Medium Free Online Test One Mark Questions 2020 - 2021

11th Standard

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Economics

Time : 00:10:00 Hrs
Total Marks : 10

    Answer all the questions

    10 x 1 = 10
  1. Cost refers to _____.

    (a)

    Price 

    (b)

    value

    (c)

    fixed cost

    (d)

    cost of production

  2. Money cost is also known as _____ cost.

    (a)

    explicit

    (b)

    implicit

    (c)

    social

    (d)

    real

  3. Wage is an example for _____ cost of the production.

    (a)

    fixed

    (b)

    variable

    (c)

    marginal

    (d)

    opportunity

  4. Identify the formula of estimating average cost.

    (a)

    AVC/Q

    (b)

    TC/Q

    (c)

    TCV//Q

    (d)

    AFC//Q

  5. Long run average cost curve is also called as _____ curve.

    (a)

    demand

    (b)

    planning

    (c)

    production

    (d)

    sales

  6. Profit = ____.

    (a)

    Total Revenue - Total Cost

    (b)

    Total Revenue + Total Cost

    (c)

    Total Revenue x Total Cost

    (d)

    Total Revenue / Total Cost

  7. Find total cost where TFC = 200 and TVC = 150

    (a)

    300

    (b)

    350

    (c)

    200

    (d)

    150

  8. The functional relationship between cost and output is expressed as _____.

    (a)

    Production function

    (b)

    Consumption function

    (c)

    Cost function

    (d)

    Distribution function

  9. Production cost expressed in money terms is called _____.

    (a)

    Real Cost

    (b)

    Money Cost

    (c)

    Sunk Cost

    (d)

    Opportunity Cost

  10. Marginal Cost is = _____

    (a)

    TCn-TCn-1

    (b)

    TCn+TCn-1

    (c)

    TCnxTCn-1

    (d)

    TCn /TCn-1

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