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This online test contains MCQs about following topics:
Large Scale production . Small scale . Economies of scale . Laws of returns . Law of variable proportions . Law of decreasing returns , Laws of cost . Total marginal average quantities
MCQ's Test For Chapter 11 "Economics Ics Part 1 English Medium Chapter 11 Online Test"
Try The MCQ's Test For Chapter 11 "Economics Ics Part 1 English Medium Chapter 11 Online Test"
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Total Questions20
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Time Allowed30
Economics Ics Part 1 English Medium Chapter 11 Online Test
00:00
Question # 1
Economies of scale
Question # 2
When diseconomies of scale outweigh economies of scale the
Question # 3
When total product rises marginal product.
Question # 4
Marginal product indicates rate of change of
Question # 5
When MP is zero, TP is
Question # 6
The slopes of average and marginal products curves are always zero under:
Question # 7
In law of diminishing returns at least one factor
Question # 8
When a firm using a fixed amount of land and capital takes on more workers, it finds that marginal product(MP) of labour falls but the average product(AP) of labour rises. This can be explained by the factors that
Question # 9
Law of diminishing returns applies more in:
Question # 10
The production function relates to
Question # 11
Economies and diseconomies of scale determine the shape of
Question # 12
Which one is the third stage of production under law of variable proportions
Question # 13
When MP curve cuts AP curve, the AP is at its.
Question # 14
Commercial economics are a pat of:
Question # 15
Laws of return apply to firms working in
Question # 16
When total product (TP) reaches its maximum, Marginal product (MP) is_
Question # 17
Which one will determine scale of production .
Question # 18
In the second stage of the law of variable of proportions the average product:
Question # 19
Which of the following saying describes diminishing marginal returns in the short run?
Question # 20
The law of increasing returns is also known as:
ICS Part 1 Economics Chapter 11 MCQs Test
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M Maheen 20 - Feb - 2021 05 Min 36 Sec 19/20 -
A Ali Hassan 10 - Sep - 2022 04 Min 52 Sec 17/20 -
K Kazim 27 - Dec - 2017 05 Min 23 Sec 17/20 -
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A Adil 04 - Jan - 2018 06 Min 32 Sec 14/20 -
M Muhammad umer 06 - Aug - 2018 08 Min 22 Sec 14/20 -
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Z Zahra 06 - Jul - 2021 02 Min 01 Sec 13/20
ICS Part 1 Economics Chapter 11 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | When total product falls, marginal product is. |
A. Zero
B. Positive
C. Negative
D. Falling
|
| 2 | Law of decreasing returns generates |
A. law of economic growth
B. law of increasing costs
C. law of variable costs
D. law of decreasing costs
|
| 3 | Which one is the small scale production. |
A. Bata shoe factory
B. A barber shop
C. kohinoor Textile Industries
D. Sufi soap
|
| 4 | Which one will determine scale of production . |
A. Financial resources
B. Production techniques
C. Extant of the market
D. All the above
|
| 5 | An important factor which promotes large scale production is: |
A. Extant of market
B. Revolutionary changes in social life
C. Culture and civilization
D. All the three
|
| 6 | Economics of scale are of two kinds |
A. temporary and permanent
B. internal and external
C. managerial and industrial
D. natural and artificial
|
| 7 | When total product rises marginal product. |
A. Remains the same
B. Falls
C. Also rises
D. None of the three
|
| 8 | In law of diminishing returns at least one factor |
A. must be constant
B. must be owned by the firm
C. must be purchasable
D. must be efficient
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| 9 | In the second stage of the law of variable of proportions the average product: |
A. Rises
B. Remains constant
C. Falls
D. None of the three
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| 10 | The government constructed a new water reservoir for the purpose of irrigation; this might be taken as |
A. increase in supply of capital
B. increase in supply of land
C. increase in supply of land and supply of capital
D. none of these
|
Test Questions