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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
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Question # 1
Which one is the third stage of production under law of variable proportions
Question # 2
The government constructed a new water reservoir for the purpose of irrigation; this might be taken as
Question # 3
When business expands beyond its optimum level what type of economics will it be getting.
Question # 4
In the second stage of the law of variable of proportions the average product:
Question # 5
Laws of return apply to firms working in
Question # 6
Which of the following is example of external economies of scale?
Question # 7
Internal economies of scale include
Question # 8
When total product rises marginal product.
Question # 9
Marginal product curve intersects average product curve when AP curve is
Question # 10
The production function relates to
Question # 11
When total product falls, marginal product is.
Question # 12
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 # 13
When total product (TP) reaches its maximum, Marginal product (MP) is_
Question # 14
Economies and diseconomies of scale determine the shape of
Question # 15
When average product (AP) and marginal product (MP) are rising.
Question # 16
Law of decreasing returns generates
Question # 17
The law of increasing returns is also known as:
Question # 18
Law of diminishing returns applies more in:
Question # 19
An important factor which promotes large scale production is:
Question # 20
The slopes of average and marginal products curves are always zero under:
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
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S Shaista zarin 24 - Jan - 2018 03 Min 25 Sec 19/20 -
M Maheen 20 - Feb - 2021 05 Min 36 Sec 19/20 -
A Ali Hassan 10 - Sep - 2022 04 Min 52 Sec 17/20 -
K Kazim 27 - Dec - 2017 05 Min 23 Sec 17/20 -
H Humaira 26 - Jan - 2018 05 Min 54 Sec 17/20 -
R romana 24 - Jun - 2021 06 Min 19 Sec 17/20 -
H hijab 06 - Oct - 2018 09 Min 04 Sec 17/20 -
M Madiha 26 - Dec - 2020 03 Min 31 Sec 16/20 -
M M.Attiq-U-Rehman 25 - Nov - 2023 03 Min 37 Sec 16/20 -
S shrushti 22 - Feb - 2021 06 Min 11 Sec 16/20 -
M Maida 26 - May - 2018 05 Min 10 Sec 14/20 -
A Adil 04 - Jan - 2018 06 Min 32 Sec 14/20 -
M Muhammad umer 06 - Aug - 2018 08 Min 22 Sec 14/20 -
R romana 27 - Dec - 2018 19 Min 16 Sec 14/20 -
Z Zahra 06 - Jul - 2021 02 Min 01 Sec 13/20
ICS Part 1 Economics Chapter 11 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | Which one will determine scale of production . |
A. Financial resources
B. Production techniques
C. Extant of the market
D. All the above
|
| 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 average product falls marginal product |
A. Rises
B. Also falls
C. Remain equal to average product
D. Does not change
|
| 5 | When MP is zero, TP is |
A. minimum
B. maximum
C. rising
D. falling
|
| 6 | Which one is the small scale production. |
A. Bata shoe factory
B. A barber shop
C. kohinoor Textile Industries
D. Sufi soap
|
| 7 | Commercial economics are a pat of: |
A. Internal economics
B. External economics
C. Economies of scale
D. None of the three
|
| 8 | Law of diminishing returns applies more in: |
A. Industry
B. Agriculture
C. Mining
D. Construction
|
| 9 | Which of the following saying describes diminishing marginal returns in the short run? |
A. When the cat is away, the mouse will play
B. Too many cooks spoil the broth
C. A rolling stone gathers no moss
D. A stitch in time saves nine
|
| 10 | 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
|
Test Questions
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