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"

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Economics Ics Part 1 English Medium Chapter 11 Online Test

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Question # 1

In law of diminishing returns at least one factor

Question # 2

The law of variable proportions was presented by.

Question # 3

Which one will determine scale of production .

Question # 4

Economies and diseconomies of scale determine the shape of

Question # 5

When total product falls, marginal product is.

Question # 6

Internal economies of scale include

Question # 7

When average product falls marginal product

Question # 8

during short period, diminishing returns may follow because

Question # 9

The law of increasing returns is also known as:

Question # 10

Commercial economics are a pat of:

Question # 11

Which one is the small scale production.

Question # 12

Marginal product indicates rate of change of

Question # 13

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

Question # 14

When MP is zero, TP is

Question # 15

Economics of scale are of two kinds

Question # 16

The law of variable proportions was presented by.

Question # 17

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

Question # 18

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

Question # 19

The concept of internal and external economics was given by.

Question # 20

Law of decreasing returns generates

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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 Marginal product curve intersects average product curve when AP curve is
A. minimum
B. maximum
C. rising
D. falling
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 Commercial economics are a pat of:
A. Internal economics
B. External economics
C. Economies of scale
D. None of the three
4 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
5 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
6 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
7 The law of variable proportions was presented by.
A. David Ricords
B. Alfred Marshall
C. W.J.L. Ryan
D. Pareto
8 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
9 The law of increasing returns is also known as:
A. Law of increasing cost
B. Law of diminishing cost
C. Law of constant cost
D. None of the three
10 The maximum point of TP curve is at quantity of labour where
A. Average physical product of labour is equal to 1
B. MPP of labour is at its maximum
C. curves of APP and MPP of labour intersect
D. MPP of labour is zero

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