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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
No factor can take the place of any other factor, it is explained by
Question # 2
Total product decreases, when marginal product is
Question # 3
The number of laws of cost are
Question # 4
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
Question # 5
When total product decreases, marginal product
Question # 6
Supply curve of perishable goods is:
Question # 7
When Demand > Supply it will be:
Question # 8
The second name of law of constant return is
Question # 9
Equilibrium price is determined in.
Question # 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
Question # 11
In the market period supply is:
Question # 12
In perfect competition number of firms is
Question # 13
Under increasing return, the slope of marginal product curve is
Question # 14
In law of constant return, marginal product
Question # 15
The second name of law of increasing 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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M Muhammad Hammad Shekhani 30 - Jun - 2021 11 Min 40 Sec 15/15 -
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ICom Part 1 Principles of Economics ( English Medium) Chapter 5 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | If supply does not change, then due to rise in demand, equilibrium price. |
A. Increases
B. Decreases
C. Does not change
D. Becomes zero
|
| 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 | Price of perishable goods is determined in: |
A. Very short period
B. Very long period
C. Day to Day
D. Both (a) and (c)
|
| 4 | The second name of law of increasing return is |
A. Law of cost
B. Law of increasing cost
C. Law of decreasing cost
D. Law of constant cost
|
| 5 | 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
|
| 6 | When total product is maximum, marginal product |
A. Is positive
B. Is negative
C. Is zero
D. Is decreasing
|
| 7 | 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 |
A. Law of decreasing return
B. Law of increasing return
C. Law of production
D. Law of constant return
|
| 8 | 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
|
| 9 | Equilibrium price is determined in. |
A. Perfect market
B. Imperfect market
C. Monopoly
D. None of these
|
| 10 | Equilibrium price is determined where: |
A. D = S
B. D > S
C. D < S
D. Both (b) and (c)
|
Test Questions