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 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 # 2

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

Average physical product of labour is equal to 1 A
MPP of labour is at its maximum B
curves of APP and MPP of labour intersect C
MPP of labour is zero D

Question # 3

Law of diminishing returns applies more in:

Industry A
Agriculture B
Mining C
Construction D

Question # 4

When total product falls, marginal product is.

Zero A
Positive B
Negative C
Falling D

Question # 5

Law of decreasing returns generates

law of economic growth A
law of increasing costs B
law of variable costs C
law of decreasing costs D

Question # 6

The law of variable proportions was presented by.

Jevens A
Rayon B
Hicks C
Valentine D

Question # 7

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 # 8

The law of variable proportions was presented by.

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

Question # 9

When MP curve cuts AP curve, the AP is at its.

Lowest point A
Highest point B
Neither of the two C
Eighter of the two D

Question # 10

Marginal product curve intersects average product curve when AP curve is

minimum A
maximum B
rising C
falling D

Question # 11

Laws of return apply to firms working in

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

Question # 12

Economies of scale

occur when increase in input less than proportionate increase in output A
suggest that firm's marginal cost curve lies above its average cost curve B
suggest that the firm's marginal cost curve is declining C
occur when average cost is falling 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

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 # 15

Which one will determine scale of production .

Financial resources A
Production techniques B
Extant of the market C
All the above D

Question # 16

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 # 17

When average product falls marginal product

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

Question # 18

Commercial economics are a pat of:

Internal economics A
External economics B
Economies of scale C
None of the three D

Question # 19

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 # 20

When MP is zero, TP is

minimum A
maximum B
rising C
falling D

Sr.#	Question	Answer
1	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
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	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
4	The slopes of average and marginal products curves are always zero under:	A. Law of increasing returns B. Law of diminishing returns C. Law of constant returns D. Law of variable propoitions
5	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
6	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
7	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
8	Marginal product curve intersects average product curve when AP curve is	A. minimum B. maximum C. rising D. falling
9	Laws of return apply to firms working in	A. perfect competition B. monopoly C. small firm D. all kinds of market situations
10	Commercial economics are a pat of:	A. Internal economics B. External economics C. Economies of scale D. None of the three

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Economics Ics Part 1 English Medium Chapter 11 Online Test

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

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

Law of diminishing returns applies more in:

When total product falls, marginal product is.

Law of decreasing returns generates

The law of variable proportions was presented by.

In law of diminishing returns at least one factor

The law of variable proportions was presented by.

When MP curve cuts AP curve, the AP is at its.

Marginal product curve intersects average product curve when AP curve is

Laws of return apply to firms working in

Economies of scale

during short period, diminishing returns may follow because

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

Which one will determine scale of production .

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

When average product falls marginal product

Commercial economics are a pat of:

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

When MP is zero, TP is

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