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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
Law of decreasing returns generates
Question # 2
during short period, diminishing returns may follow because
Question # 3
Economics of scale are of two kinds
Question # 4
Marginal product indicates rate of change of
Question # 5
In law of diminishing returns at least one factor
Question # 6
When total product (TP) reaches its maximum, Marginal product (MP) is_
Question # 7
When business expands beyond its optimum level what type of economics will it be getting.
Question # 8
Economies and diseconomies of scale determine the shape of
Question # 9
When total product rises marginal product.
Question # 10
Which one is the small scale production.
Question # 11
Which of the following saying describes diminishing marginal returns in the short run?
Question # 12
In the second stage of the law of variable of proportions the average product:
Question # 13
Laws of return apply to firms working in
Question # 14
If in a production process, all inputs are increased by 10% and output increase by less than 10%, then it is called
Question # 15
The law of increasing returns is also known as:
Question # 16
When diseconomies of scale outweigh economies of scale the
Question # 17
Marginal product curve intersects average product curve when AP curve is
Question # 18
When MP is zero, TP is
Question # 19
When total product falls, marginal product is.
Question # 20
The government constructed a new water reservoir for the purpose of irrigation; this might be taken as
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 indicates rate of change of |
A. total product
B. average product
C. variable product
D. all of the above
|
| 2 | 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
|
| 3 | When business expands beyond its optimum level what type of economics will it be getting. |
A. Diseconomies
B. Internal economies
C. External economies
D. Maanagerial economics
|
| 4 | 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
|
| 5 | 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
|
| 6 | The concept of internal and external economics was given by. |
A. Adam Smith
B. Robbins
C. J.M.Keynes
D. Alfred Marshall
|
| 7 | 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
|
| 8 | 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
|
| 9 | When total product (TP) reaches its maximum, Marginal product (MP) is_ |
A. Zero
B. Positive
C. Negative
D. Rising
|
| 10 | Commercial economics are a pat of: |
A. Internal economics
B. External economics
C. Economies of scale
D. None of the three
|
Test Questions
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