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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
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Question # 1
Under decreasing return, the slope of marginal product curve is
Question # 2
When marginal product remains positive, total product
Question # 3
Under increasing return, the slope of marginal product curve is
Question # 4
Change in total production is called
Question # 5
Total product decreases, when marginal product is
Question # 6
If supply does not change, then due to rise in demand, equilibrium price.
Question # 7
Supply curve of perishable goods is:
Question # 8
When average product increase, marginal product
Question # 9
Under constant return, the slope of marginal product curve is
Question # 10
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 # 11
The number of laws of cost are
Question # 12
Equilibrium price is determined in.
Question # 13
When demand and supply rise in equal propoertion, the equilibrium price will:
Question # 14
Supply of the one of the following is not fixed:
Question # 15
When marginal product is zero, total 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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M Muhammad aliaan 21 - Jan - 2021 07 Min 35 Sec 12/15
ICom Part 1 Class Principles of Economics ( English Medium) Chapter 5 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | In law of increasing cost, marginal cost |
A. Increases
B. Decreases
C. Remains constant
D. Remains fixed
|
| 2 | Laws of return are |
A. Two
B. Three
C. Four
D. Five
|
| 3 | The second name of law of decreasing return is |
A. Law of increasing cost
B. Law of constant cost
C. Law of decreasing cost
D. Law of cost
|
| 4 | Law of decreasing return is immediately applied on |
A. Agriculture
B. Trade
C. Industry
D. Construction
|
| 5 | 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
|
| 6 | 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
|
| 7 | If in a production sector, along with the fixed factor of production, by increasing units of variable factors, marginal product remains constant, this tendency in economics is called |
A. Law of increasing return
B. Law of constant return
C. Law of decreasing return
D. Law of production
|
| 8 | When total product increases, marginal product |
A. Is positive
B. Is negative
C. May be positive or negative
D. Is zero
|
| 9 | Supply of the one of the following is not fixed: |
A. Vegetable
B. Fruit
C. Milk
D. Motor bike
|
| 10 | When marginal product is zero, total product is |
A. Maximum
B. Minimum
C. Negative
D. Zero
|
Test Questions
