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This online test contains MCQs about following topics:
. Analysis of firms output . Laws of return . Law of increasing return . Application of law of increasing return . Law of constant return . Law of diminishing return . Laws of costs . Allpication of law of deminishing return
ICOM Part 1 Economics Ch 5 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 5 "Principles of Economics Icom Part 1 English Medium Chapter 5 Online Test"
Try The MCQ's Test For Chapter 5 "Principles of Economics Icom Part 1 English Medium Chapter 5 Online Test"
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Total Questions15
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Time Allowed20
Principles of Economics Icom Part 1 English Medium Chapter 5 Online Test
00:00
Question # 1
When total product increases, marginal product
Question # 2
In production process when marginal product increases with the increase in units of variable factors along with fixed factor, this tendency in economics is called
Question # 3
Average product is maximum, when marginal product curve ______ average product curve
Question # 4
In law of decreasing return, marginal product
Question # 5
Supply is Fixed of:
Question # 6
In law of constant return, marginal product
Question # 7
When average product decreases, marginal product
Question # 8
When Demand > Supply it will be:
Question # 9
Applied on agriculture immediately
Question # 10
Under increasing return, the slope of marginal product curve is
Question # 11
The second name of law of increasing return is
Question # 12
In a production process, when units of variable factors along with the fixed factor of production are increased, marginal cost remains the same, this tendency in economics is called
Question # 13
The number of laws of cost are
Question # 14
In a production process, when units of variable factors along with fixed factor of production are increased, marginal cost goes on rising, this tendency in economics is called
Question # 15
Total product decreases, when marginal product is
11th Principle of Economics Chapter 5 Test
Here you can prepare 11th Principle of Economics English Medium Chapter 5 Laws of Return Test. Click the button for 100% free full practice test.
Top Scorers Of Chapter 5 "Principles of Economics Icom Part 1 English Medium Chapter 5 Online Test" MCQ`s Test
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M Muhammad Hammad Shekhani 30 - Jun - 2021 11 Min 40 Sec 15/15 -
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| Sr.# | Question | Answer |
|---|---|---|
| 1 | When average product increase, marginal product |
A. Decreases
B. Is zero
C. Is negative
D. Also increases
|
| 2 | The production sector where human brain and intelligence plays more role there is applicable |
A. Law of increasing return
B. Law of constant return
C. Law of decreasing return
D. Law of increasing cost
|
| 3 | In perfect competition number of firms is |
A. One
B. Two
C. A few
D. Large
|
| 4 | When average product decreases, marginal product |
A. Increases
B. Is zero
C. Is equal to average product
D. Is less than average product
|
| 5 | In production process when marginal product increases with the increase in units of variable factors along with fixed factor, this tendency in economics is called |
A. Law of production
B. Law of increasing return
C. Law of decreasing return
D. Law of constant return
|
| 6 | When marginal product is zero, total product is |
A. Maximum
B. Minimum
C. Negative
D. Zero
|
| 7 | In a production process, when units of variable factors along with fixed factor of production are increased, marginal cost goes on rising, this tendency in economics is called |
A. Law of decreasing cost
B. Law of constant cost
C. Law of increasing cost
D. Law of increasing return
|
| 8 | According to classical economics, production process is under laws |
A. Two
B. Three
C. Four
D. Five
|
| 9 | When average product is maximum, marginal product is |
A. Equal to average product
B. More than average product
C. Less than average product
D. Zero
|
| 10 | In law of increasing cost, marginal cost |
A. Increases
B. Decreases
C. Remains constant
D. Remains fixed
|
Test Questions
