11th class Economics chapter 11 online mcq test with answers for ICS part 1 Economics chapter 11 (Scale of Production and Laws of Returns)

Question # 1

The law of variable proportions was presented by.

Jevens A
Rayon B
Hicks C
Valentine D

Question # 2

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

Law of increasing returns A
Law of diminishing returns B
Law of constant returns C
Law of variable propoitions D

Question # 3

Laws of return apply to firms working in

perfect competition A
monopoly B
small firm C
all kinds of market situations D

Question # 4

Economics of scale are of two kinds

temporary and permanent A
internal and external B
managerial and industrial C
natural and artificial D

Question # 5

Marginal product indicates rate of change of

total product A
average product B
variable product C
all of the above D

Question # 6

In law of diminishing returns at least one factor

must be constant A
must be owned by the firm B
must be purchasable C
must be efficient D

Question # 7

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

Rises A
Remains constant B
Falls C
None of the three D

Question # 8

The law of variable proportions was presented by.

David Ricords A
Alfred Marshall B
W.J.L. Ryan C
Pareto D

Question # 9

Internal economies of scale include

risk-bearing economics A
trade mark B
managerial economies C
a and c of above D

Question # 10

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

When the cat is away, the mouse will play A
Too many cooks spoil the broth B
A rolling stone gathers no moss C
A stitch in time saves nine D

Question # 11

The production function relates to

cost of output A
cost of input B
output to input C
demand to output D

Question # 12

The law of increasing returns is also known as:

Law of increasing cost A
Law of diminishing cost B
Law of constant cost C
None of the three D

Question # 13

during short period, diminishing returns may follow because

quantity of labour is fixed A
quality of labour is fixed B
quantity of capital is fixed C
quantity of any one factor is fixed D

Question # 14

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

MP of labour is grater than AP of labour A
additional workers are more efficient B
MP and AP are equal C
AP is maximum D

Question # 15

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

average product is negative A
total product is negative B
marginal product is negative C
marginal cost is falling D

Question # 16

Economies and diseconomies of scale determine the shape of

long run AC curve A
short run AC B
average fixed cost C
none of the above D

Question # 17

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

AP > MP A
AP = MP B
AP < MP C
AP = MP = 0 D

Question # 18

When MP is zero, TP is

minimum A
maximum B
rising C
falling D

Question # 19

When average product falls marginal product

Rises A
Also falls B
Remain equal to average product C
Does not change D

Question # 20

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

increase in supply of capital A
increase in supply of land B
increase in supply of land and supply of capital C
none of these D

Sr.#	Question	Answer
1	Marginal product curve intersects average product curve when AP curve is	A. minimum B. maximum C. rising D. falling
2	Law of diminishing returns applies more in:	A. Industry B. Agriculture C. Mining D. Construction
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	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
4	Marginal product indicates rate of change of	A. total product B. average product C. variable product D. all of the above
5	When MP is zero, TP is	A. minimum B. maximum C. rising D. falling
6	The law of variable proportions was presented by.	A. David Ricords B. Alfred Marshall C. W.J.L. Ryan D. Pareto
7	When average product falls marginal product	A. Rises B. Also falls C. Remain equal to average product D. Does not change
8	Laws of return apply to firms working in	A. perfect competition B. monopoly C. small firm D. all kinds of market situations
9	Economics of scale are of two kinds	A. temporary and permanent B. internal and external C. managerial and industrial D. natural and artificial
10	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

Latest Educational News Stories

Pakistan's Largest Database of Colleges and Universities

BS Programs

University Past Papers

University Results

Exam Results 2024

Study Abroad Programs and Opportunities for Pakistani Students

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

ICS Part 1 Economics Chapter 11 Test

ICS Part 1 Economics Chapter Wise Test

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

Economics Ics Part 1 English Medium Chapter 11 Online Test

The law of variable proportions was presented by.

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

Laws of return apply to firms working in

Economics of scale are of two kinds

Marginal product indicates rate of change of

In law of diminishing returns at least one factor

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

The law of variable proportions was presented by.

Internal economies of scale include

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

The production function relates to

The law of increasing returns is also known as:

during short period, diminishing returns may follow because

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

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

Economies and diseconomies of scale determine the shape of

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

When MP is zero, TP is

When average product falls marginal product

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

Prepare Complete Set Wise Chapter 11 "Economics Ics Part 1 English Medium Chapter 11 Online Test" MCQs Online With Answers

Set 1

Set 2

Topic Test

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

ICS Part 1 Economics Chapter 11 Important MCQ's

Test Questions

Share your comments & questions here

Is this page helpful?