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11th Standard Economics Cost and Revenue Analysis English Medium Free Online Test One Mark Questions with Answer Key 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 functions are also known as _____ function.

    (a)

    production

    (b)

    investment

    (c)

    demand

    (d)

    consumption

  2. The cost that varies with the level of output is termed as _____ cost.

    (a)

    money

    (b)

    variable cost

    (c)

    total cost

    (d)

    fixed cost

  3. The cost per unit of output is denoted by cost _____.

    (a)

    average

    (b)

    marginal

    (c)

    variable

    (d)

    total

  4. Revenue received from the sale of products is known as _____ revenue.

    (a)

    profit

    (b)

    total revenue

    (c)

    average

    (d)

    marginal

  5. Find total fixed cost where TC = 500 and TVC= 100.

    (a)

    100

    (b)

    200

    (c)

    300

    (d)

    400

  6. Find Total Variable Cost where TC = 200 and TFC=50.

    (a)

    50

    (b)

    150

    (c)

    200

    (d)

    250

  7. A cost function may be written as ____.

    (a)

    C=f(Q)

    (b)

    Y=S

    (c)

    C=f(Y)

    (d)

    TC/Q

  8. ____ is also called as 'Retrospective Cost'.

    (a)

    Floating

    (b)

    Sunk Cost

    (c)

    Economic Cost

    (d)

    Money Cost

  9. MC curve is a ____ shaped curve.

    (a)

    V

    (b)

    L

    (c)

    A

    (d)

    U

  10. Under perfect competition. The demand curve is

    (a)

    Upward sloping

    (b)

    Horizontal

    (c)

    Downward sloping

    (d)

    Vertical

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