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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ICS Part 1 Economics Chapter Wise Test

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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Economics Ics Part 1 English Medium Chapter 11 Online Test

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Question # 1

Economies and diseconomies of scale determine the shape of

Question # 2

The concept of internal and external economics was given by.

Question # 3

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

Question # 4

Laws of return apply to firms working in

Question # 5

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

Question # 6

When average product falls marginal product

Question # 7

The law of variable proportions was presented by.

Question # 8

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

Question # 9

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 # 10

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

Question # 11

Commercial economics are a pat of:

Question # 12

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

Question # 13

When total product rises marginal product.

Question # 14

When total product falls, marginal product is.

Question # 15

The slopes of average and marginal products curves are always zero under:

Question # 16

Law of decreasing returns generates

Question # 17

The law of variable proportions was presented by.

Question # 18

Which one will determine scale of production .

Question # 19

Marginal product curve intersects average product curve when AP curve is

Question # 20

The production function relates to

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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 Which of the following is example of external economies of scale?
A. Discount on purchases of raw materials
B. Technical progress leads to development of machines at low price
C. Hiring of specialized staff due to increase in scale of production
D. A firm starts producing by products
2 Which one is the third stage of production under law of variable proportions
A. Decreasing average returns
B. Increasing average return
C. Negative marginal return
D. Increasing marginal return
3 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
4 When business expands beyond its optimum level what type of economics will it be getting.
A. Diseconomies
B. Internal economies
C. External economies
D. Maanagerial economics
5 Internal economies of scale include
A. risk-bearing economics
B. trade mark
C. managerial economies
D. a and c of above
6 Law of diminishing returns applies more in:
A. Industry
B. Agriculture
C. Mining
D. Construction
7 If in a production process, all inputs are increased by 10% and output increase by less than 10%, then it is called
A. economies of scale
B. diseconomies of scale
C. diminishing marginal returns
D. negative economies
8 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
9 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
A. MP of labour is grater than AP of labour
B. additional workers are more efficient
C. MP and AP are equal
D. AP is maximum
10 The production function relates to
A. cost of output
B. cost of input
C. output to input
D. demand to output

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