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

00:00
Question # 1

Price of perishable goods is determined in:

Question # 2

When marginal product remains positive, total product

Question # 3

Equilibrium price is determined in.

Question # 4

If supply does not change, then due to rise in demand, equilibrium price.

Question # 5

When average product is maximum, marginal product is

Question # 6

The sector of production, in which nature plays more role, there is applicable

Question # 7

In law of decreasing cost, marginal cost

Question # 8

Applied on agriculture immediately

Question # 9

In a production process, when units of variable factors along with fixed factor of production are increased marginal cost goes on falling, this tendency in economics is called

Question # 10

Change in total production is called

Question # 11

No factor can take the place of any other factor, it is explained by

Question # 12

Law of decreasing return is immediately applied on

Question # 13

When average product increase, marginal product

Question # 14

In perfect competition number of firms is

Question # 15

Supply of the one of the following is not fixed:

Submit

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