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5th Chapter

### 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.

## First Year Principles of Economics Chapter 5 Online MCQ Test for 1st Year Principles of Economics Chapter 5 (Laws of Return)

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

### First Year Principles of Economics Chapter 5 Online MCQ Test for 1st Year Principles of Economics Chapter 5 (Laws of Return)

1 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
2 In perfect competition number of firms is
• A. One
• B. Two
• C. A few
• D. Large
3 Law of decreasing return is immediately applied on
• A. Agriculture
• C. Industry
• D. Construction
4 Change in total production is called
• A. Marginal production
• B. Zero production
• C. Total production
• D. Average production
5 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
6 When demand and supply rise in equal propoertion, the equilibrium price will:
• A. Fall
• B. Rise
• C. Constant
• D. None of those
7 When marginal product remains positive, total product
• A. Goes on decreasing
• B. Goes in increasing
• C. Becomes negative
• D. Does not change
8 Under increasing return, the slope of marginal product curve is
• A. Positive
• B. Negative
• C. Infinite
• D. Zero
9 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
10 Equilibrium price is determined where:
• A. D = S
• B. D &gt; S
• C. D &lt; S
• D. Both (b) and (c)

### Top Scorers of Principles of Economics Icom Part 1 English Medium Chapter 5 Online Test

A

#### Abeer

Lahore08 - Feb - 2024

13/15
02 Mins 37 Sec
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#### Abeer

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13/15
02 Mins 47 Sec
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#### Abeer

Lahore08 - Feb - 2024

11/15
02 Mins 16 Sec

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