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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
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Question # 1
Which of the following saying describes diminishing marginal returns in the short run?
Question # 2
Marginal product curve intersects average product curve when AP curve is
Question # 3
When MP is zero, TP is
Question # 4
The maximum point of TP curve is at quantity of labour where
Question # 5
In law of diminishing returns at least one factor
Question # 6
When average product (AP) and marginal product (MP) are rising.
Question # 7
The production function relates to
Question # 8
If in a production process, all inputs are increased by 10% and output increase by less than 10%, then it is called
Question # 9
Which of the following is example of external economies of scale?
Question # 10
Laws of return apply to firms working in
Question # 11
Commercial economics are a pat of:
Question # 12
An important factor which promotes large scale production is:
Question # 13
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 # 14
The concept of internal and external economics was given by.
Question # 15
Economics of scale are of two kinds
Question # 16
The law of variable proportions was presented by.
Question # 17
When total product rises marginal product.
Question # 18
Economies and diseconomies of scale determine the shape of
Question # 19
When total product (TP) reaches its maximum, Marginal product (MP) is_
Question # 20
during short period, diminishing returns may follow because
ICS Part 1 Economics Chapter 11 MCQs Test
Top Scorers Of Chapter 11 "Economics Ics Part 1 English Medium Chapter 11 Online Test" MCQ`s Test
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S Shaista zarin 24 - Jan - 2018 03 Min 25 Sec 19/20 -
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 -
H Humaira 26 - Jan - 2018 05 Min 54 Sec 17/20 -
R romana 24 - Jun - 2021 06 Min 19 Sec 17/20 -
H hijab 06 - Oct - 2018 09 Min 04 Sec 17/20 -
M Madiha 26 - Dec - 2020 03 Min 31 Sec 16/20 -
M M.Attiq-U-Rehman 25 - Nov - 2023 03 Min 37 Sec 16/20 -
S shrushti 22 - Feb - 2021 06 Min 11 Sec 16/20 -
M Maida 26 - May - 2018 05 Min 10 Sec 14/20 -
A Adil 04 - Jan - 2018 06 Min 32 Sec 14/20 -
M Muhammad umer 06 - Aug - 2018 08 Min 22 Sec 14/20 -
R romana 27 - Dec - 2018 19 Min 16 Sec 14/20 -
Z Zahra 06 - Jul - 2021 02 Min 01 Sec 13/20
ICS Part 1 Economics Chapter 11 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Internal economies of scale include |
A. risk-bearing economics
B. trade mark
C. managerial economies
D. a and c of above
|
| 2 | Economies and diseconomies of scale determine the shape of |
A. long run AC curve
B. short run AC
C. average fixed cost
D. none of the above
|
| 3 | When total product rises marginal product. |
A. Remains the same
B. Falls
C. Also rises
D. None of the three
|
| 4 | The concept of internal and external economics was given by. |
A. Adam Smith
B. Robbins
C. J.M.Keynes
D. Alfred Marshall
|
| 5 | Commercial economics are a pat of: |
A. Internal economics
B. External economics
C. Economies of scale
D. None of the three
|
| 6 | Marginal product curve intersects average product curve when AP curve is |
A. minimum
B. maximum
C. rising
D. falling
|
| 7 | Economies of scale |
A. occur when increase in input less than proportionate increase in output
B. suggest that firm's marginal cost curve lies above its average cost curve
C. suggest that the firm's marginal cost curve is declining
D. occur when average cost is falling
|
| 8 | 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
|
| 9 | during short period, diminishing returns may follow because |
A. quantity of labour is fixed
B. quality of labour is fixed
C. quantity of capital is fixed
D. quantity of any one factor is fixed
|
| 10 | When diseconomies of scale outweigh economies of scale the |
A. long run AC curve rises
B. marginal cost falls
C. long run ATC curve falls
D. AVC falls
|
Test Questions