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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
The sector of production, in which nature and human beings play an equal role, there is applicable
Question # 2
Under decreasing return, the slope of marginal product curve is
Question # 3
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 # 4
If supply does not change, then due to rise in demand, equilibrium price.
Question # 5
Price of perishable goods is determined in:
Question # 6
No factor can take the place of any other factor, it is explained by
Question # 7
Supply of the one of the following is not fixed:
Question # 8
In production process, when units of variable factors along with fixed factor of production are increased, marginal product goes on failing, this tendency in economics is called
Question # 9
In law of increasing cost, marginal cost
Question # 10
Equilibrium price is determined where:
Question # 11
When Demand > Supply it will be:
Question # 12
In the market period supply is:
Question # 13
Average product is maximum, when marginal product curve ______ average product curve
Question # 14
In law of decreasing cost, marginal cost
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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S Subtain Ahmed Raza 21 - Jul - 2023 02 Min 48 Sec 15/15 -
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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A Arzoo Qaiser 30 - Jan - 2026 03 Min 01 Sec 13/15 -
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S Sania Butt 01 - Jun - 2024 04 Min 26 Sec 12/15 -
I Ibrahim Atif 15 - Dec - 2023 04 Min 46 Sec 12/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 5 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Supply is Fixed of: |
A. Perishable goods
B. Free goods
C. Durable goods
D. Substitute goods
|
| 2 | When average product decreases, marginal product |
A. Increases
B. Is zero
C. Is equal to average product
D. Is less than average product
|
| 3 | In law of increasing cost, marginal cost |
A. Increases
B. Decreases
C. Remains constant
D. Remains fixed
|
| 4 | 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
|
| 5 | When total product increases, marginal product |
A. Is positive
B. Is negative
C. May be positive or negative
D. Is zero
|
| 6 | Supply curve of perishable goods is: |
A. Horizontal
B. Vertical
C. Infinite
D. All of them
|
| 7 | In law of constant return, marginal product |
A. Increases
B. Decreases
C. Remains constant
D. Remains changing
|
| 8 | The sector of production, in which nature plays more role, there is applicable |
A. Law of increasing return
B. Law of constant return
C. Law of decreasing return
D. Law of decreasing cost
|
| 9 | Change in total production is called |
A. Marginal production
B. Zero production
C. Total production
D. Average production
|
| 10 | Market equilibrium take place where: |
A. D = S
B. D > S
C. D < S
D. Both (b) and (c)
|
Test Questions