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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
Equilibrium price is determined where:
Question # 2
The second name of law of decreasing return is
Question # 3
In the market period supply is:
Question # 4
Supply is Fixed of:
Question # 5
The second name of law of constant return is
Question # 6
No factor can take the place of any other factor, it is explained by
Question # 7
When total product decreases, marginal product
Question # 8
Applied on agriculture immediately
Question # 9
When average product is maximum, marginal product is
Question # 10
In a production process, when units of variable factors along with fixed factor of production are increased marginal cost goes on falling, this tendency in economics is called
Question # 11
Total product decreases, when marginal product is
Question # 12
When marginal product remains positive, total product
Question # 13
In law of constant return, marginal product
Question # 14
Laws of return are
Question # 15
According to classical economics, production process is under laws
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 -
R Rimsha Fsdpk 29 - Mar - 2023 03 Min 13 Sec 14/15 -
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S Sania Butt 01 - Jun - 2024 04 Min 26 Sec 12/15 -
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ICom Part 1 Principles of Economics ( English Medium) Chapter 5 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | No factor can take the place of any other factor, it is explained by |
A. Law of decreasing return
B. Law of constant return
C. Law of increasing return
D. Law of return
|
| 2 | If supply does not change, then due to rise in demand, equilibrium price. |
A. Increases
B. Decreases
C. Does not change
D. Becomes zero
|
| 3 | Production which is produced with a particular combination of factors of production, is called |
A. Total product
B. Average product
C. Marginal product
D. Positive product
|
| 4 | In a production process, when units of variable factors along with fixed factor of production are increased marginal cost goes on falling, this tendency in economics is called |
A. Law of decreasing cost
B. Law of increasing cost
C. Law of constant cost
D. Law of decreasing return
|
| 5 | When average product increase, marginal product |
A. Decreases
B. Is zero
C. Is negative
D. Also increases
|
| 6 | Increasing marginal product shows the law |
A. Law of increasing return
B. Law of constant return
C. Law of decreasing return
D. Law of diminishing marginal utility
|
| 7 | Total product decreases, when marginal product is |
A. Positive
B. Negative
C. Zero
D. None of these
|
| 8 | In law of increasing cost, marginal cost |
A. Increases
B. Decreases
C. Remains constant
D. Remains fixed
|
| 9 | Supply is Fixed of: |
A. Perishable goods
B. Free goods
C. Durable goods
D. Substitute goods
|
| 10 | 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 |
A. Law of decreasing cost
B. Law of constant cost
C. Law of increasing cost
D. Law of decreasing return
|
Test Questions
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