NCERT Mcqs Questions Class 12 Economics Chapter 4 With Easy PDF

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NCERT Mcqs Questions Class 12 Economics Chapter 4, NCERT Class 12 Economics Chapter 4 MCQs Easy PDF, NCERT Mcqs Questions Class 12 Economics Chapter With Easy PDF, NCERT Mcqs Questions Class 12 Economics Chapter 4


NCERT Mcqs Questions Class 12 Economics Chapter 4 With Easy PDF


Class12th 
Chapter NameTheory of firm under perfects competitions
Chapter numberChapter 4
Part A
BoardCBSE
Book NCERT
SubjectEconomics
Medium English
Study MaterialsMCQs
Download PDFClass 12 Economics Chapter 4 PDF
NCERT Mcqs Questions Class 12 Economics Chapter 4

NCERT Mcqs Questions Class 12 Economics Chapter 4 With Easy PDF


1. Which cost increases and decreases with the quantity of the product?

(a) fixed cost

(b) variable cost

(c) Total cost

(d) monetary cost

2. …does not change in the short run-

(a) fixed cost

(b) cost of production

(c) Total cost

(d) variable cost

3. What is the cost of wage production?

(a) stable

(b) variable

(c) opportunity

(d) marginal

4. If all the units of the product are sold at the same price, then the marginal revenue will be from/to the off revenue.

(a) equal

(b) more

(c) less

(d) more or less

5. The proceeds received from the sale of an additional unit is called-

(a) Marginal inflows

(b) average revenue

(c) total revenue

(d) profit

6. Average revenue is always more than/more than the cost of the commodity.

(a) equal

(b) more

(c) less

(d) more or less

7. If the total revenue is divided by the units sold, we get

(a) Total revenue

(b) average revenue

(c) marginal revenue

(d) total revenue

8. If the total number of units sold is multiplied by the cost per unit of the commodity, then we get…

(a) Total revenue

(b) average revenue

(c) marginal revenue

(d) profit

9. If the law of diminishing returns applies, then the average cost is ……….

(a) will decrease

(b) will increase

(c) will remain the same

(d) will decrease gradually

10. Average Fixed Cost——

(a) never zero

(b) the curve does not touch the X-axis

(c) the curve never touches the Y-axis

(d. All of the above 

11. Who is the short term cost.

(a) Average cost (AC)

(b) marginal cost (MC)

(c) Total Cost (TC)

(d. All of the above

12.Supply elasticity gives us a sense of the percentage change in supply-

(a) 10% change in price

(b) 100% change in price

(c) Due to 50% price change

(d) 1 percent change in price

13. A rightward shift in the supply curve may be due to-

(a) Decrease in the number of firms

(b) No change in the number of firms

(c) increase in the number of firms

(d) Change in the price of the commodity

14. If the market supply curve is shifting to the left, the reason may be-

(a) Decrease in the number of firms

(b) unchanged number of firms

(c) increase in the number of firms

(d) Change in the price of the commodity

15. The horizontal sum of the supply curves of the firms is-

(a) Market supply curve

(b) individual supply curve

(c) market demand curve

(d) individual demand curve

16. Levy of excise duty-

(a) the supply curve shifts to the left 

(b) the supply curve shifts to the right

(c) There is an upward movement on the supply curve

(d) Downward transmission takes place on the supply curve

17.If the supply curve shifts to the left, it may be due to-

(a) decrease in the price of factor inputs

(b) increase in the price of factor inputs

(c) equilibrium price of factor inputs

(d) zero price of factor inputs

18. If the supply curve shifts to the right, it may be due to-

(a) rise in the price of factor inputs

(b) decrease in the price of factor inputs

(c) same price of factor inputs

(d) zero price of factor inputs

19. A rightward shift in the supply curve may be due to-

(a) Technological progress

(b) Technological backwardness

(c) stable technology

(d) Either technological progress or technological backwardness

20. Marginal revenue of a price taking firm is-

(a) less than the cost

(b) same as net cost

(c) same as price

(d) Similar to cost

21. Profit of a firm is that revenue which-

(a) is obtained at zero cost

(b) Received at net cost. 

(c) Received at gross cost

(d) at extra cost


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