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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
The production function relates to
Question # 2
An important factor which promotes large scale production is:
Question # 3
When MP is zero, TP is
Question # 4
The law of variable proportions was presented by.
Question # 5
Law of diminishing returns is a universal law as:
Question # 6
Law of decreasing returns generates
Question # 7
Which of the following saying describes diminishing marginal returns in the short run?
Question # 8
Economics of scale are of two kinds
Question # 9
Economies of scale
Question # 10
Which one will determine scale of production .
Question # 11
The slopes of average and marginal products curves are always zero under:
Question # 12
Laws of return apply to firms working in
Question # 13
The law of variable proportions was presented by.
Question # 14
In law of diminishing returns at least one factor
Question # 15
Commercial economics are a pat of:
Question # 16
When average product (AP) and marginal product (MP) are rising.
Question # 17
If in a production process, all inputs are increased by 10% and output increase by less than 10%, then it is called
Question # 18
In the second stage of the law of variable of proportions the average product:
Question # 19
When MP curve cuts AP curve, the AP is at its.
Question # 20
The maximum point of TP curve is at quantity of labour where
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 | The production function relates to |
A. cost of output
B. cost of input
C. output to input
D. demand to output
|
| 2 | 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
|
| 3 | 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
|
| 4 | When total product (TP) reaches its maximum, Marginal product (MP) is_ |
A. Zero
B. Positive
C. Negative
D. Rising
|
| 5 | Law of diminishing returns applies more in: |
A. Industry
B. Agriculture
C. Mining
D. Construction
|
| 6 | In production of goods, negative returns in the short run imply that |
A. average product is negative
B. total product is negative
C. marginal product is negative
D. marginal cost is falling
|
| 7 | 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
|
| 8 | Economics of scale are of two kinds |
A. temporary and permanent
B. internal and external
C. managerial and industrial
D. natural and artificial
|
| 9 | The concept of internal and external economics was given by. |
A. Adam Smith
B. Robbins
C. J.M.Keynes
D. Alfred Marshall
|
| 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
|
Test Questions