First Year Economics Chapter 11 Online MCQ Test for 1st Year Economics Chapter 11 (Scale of Production and Laws of Returns)

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

ICS Part 1 Economics Chapter 11 Test

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MCQ's Test For Chapter 11 "Economics Ics Part 1 English Medium Chapter 11 Online Test"

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Economics Ics Part 1 English Medium Chapter 11 Online Test

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Question # 1

Which one is the small scale production.

Question # 2

The maximum point of TP curve is at quantity of labour where

Question # 3

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 # 4

Economies of scale

Question # 5

The law of variable proportions was presented by.

Question # 6

If in a production process, all inputs are increased by 10% and output increase by less than 10%, then it is called

Question # 7

Law of decreasing returns generates

Question # 8

Which of the following is example of external economies of scale?

Question # 9

The concept of internal and external economics was given by.

Question # 10

In production of goods, negative returns in the short run imply that

Question # 11

Which one will determine scale of production .

Question # 12

Which of the following saying describes diminishing marginal returns in the short run?

Question # 13

In the second stage of the law of variable of proportions the average product:

Question # 14

The law of increasing returns is also known as:

Question # 15

The government constructed a new water reservoir for the purpose of irrigation; this might be taken as

Question # 16

during short period, diminishing returns may follow because

Question # 17

Marginal product curve intersects average product curve when AP curve is

Question # 18

Law of diminishing returns applies more in:

Question # 19

When total product falls, marginal product is.

Question # 20

When average product (AP) and marginal product (MP) are rising.

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ICS Part 1 Economics Chapter 11 MCQs Test

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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 Marginal product indicates rate of change of
A. total product
B. average product
C. variable product
D. all of the above
3 Commercial economics are a pat of:
A. Internal economics
B. External economics
C. Economies of scale
D. None of the three
4 The law of variable proportions was presented by.
A. David Ricords
B. Alfred Marshall
C. W.J.L. Ryan
D. Pareto
5 When MP curve cuts AP curve, the AP is at its.
A. Lowest point
B. Highest point
C. Neither of the two
D. Eighter of the two
6 When total product (TP) reaches its maximum, Marginal product (MP) is_
A. Zero
B. Positive
C. Negative
D. Rising
7 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
8 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
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 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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