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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 marginal product is zero, total product is
Question # 2
Laws of return are
Question # 3
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 # 4
Supply is Fixed of:
Question # 5
According to classical economics, production process is under laws
Question # 6
Production which is produced with a particular combination of factors of production, is called
Question # 7
In the market period supply is:
Question # 8
When average product increase, marginal product
Question # 9
When total product is maximum, marginal product
Question # 10
Supply curve of perishable goods is:
Question # 11
Under increasing return, the slope of marginal product curve is
Question # 12
Equilibrium price is determined where:
Question # 13
Average product is maximum, when marginal product curve ______ average product curve
Question # 14
In law of constant return, marginal product
Question # 15
The second name of law of decreasing return 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 | Price of perishable goods is determined in: |
A. Very short period
B. Very long period
C. Day to Day
D. Both (a) and (c)
|
| 2 | When Demand > Supply it will be: |
A. Shortage
B. Less supply
C. More demand
D. Surplus
|
| 3 | When average product increase, marginal product |
A. Decreases
B. Is zero
C. Is negative
D. Also increases
|
| 4 | 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
|
| 5 | 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
|
| 6 | 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
|
| 7 | In law of decreasing return, marginal product |
A. Increases
B. Decreases
C. Remains constant
D. Does not change
|
| 8 | The second name of law of constant return is |
A. Law of decreasing cost
B. Law of increasing cost
C. Law of cost
D. Law of constant cost
|
| 9 | In the market period supply is: |
A. Variable
B. Fixed
C. Zero
D. Positive
|
| 10 | In perfect competition number of firms is |
A. One
B. Two
C. A few
D. Large
|
Test Questions
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