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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
The slopes of average and marginal products curves are always zero under:
Question # 2
When total product (TP) reaches its maximum, Marginal product (MP) is_
Question # 3
In production of goods, negative returns in the short run imply that
Question # 4
Law of decreasing returns generates
Question # 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
Question # 6
If in a production process, all inputs are increased by 10% and output increase by less than 10%, then it is called
Question # 7
Economies of scale
Question # 8
The government constructed a new water reservoir for the purpose of irrigation; this might be taken as
Question # 9
The law of increasing returns is also known as:
Question # 10
Laws of return apply to firms working in
Question # 11
The production function relates to
Question # 12
Which one will determine scale of production .
Question # 13
Law of diminishing returns is a universal law as:
Question # 14
When MP curve cuts AP curve, the AP is at its.
Question # 15
In law of diminishing returns at least one factor
Question # 16
When total product falls, marginal product is.
Question # 17
during short period, diminishing returns may follow because
Question # 18
When average product falls marginal product
Question # 19
When average product (AP) and marginal product (MP) are rising.
Question # 20
The maximum point of TP curve is at quantity of labour where
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 | 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 | Commercial economics are a pat of: |
A. Internal economics
B. External economics
C. Economies of scale
D. None of the three
|
| 5 | 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
|
| 6 | When MP is zero, TP is |
A. minimum
B. maximum
C. rising
D. falling
|
| 7 | The law of variable proportions was presented by. |
A. Jevens
B. Rayon
C. Hicks
D. Valentine
|
| 8 | 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
|
| 9 | The concept of internal and external economics was given by. |
A. Adam Smith
B. Robbins
C. J.M.Keynes
D. Alfred Marshall
|
| 10 | When total product (TP) reaches its maximum, Marginal product (MP) is_ |
A. Zero
B. Positive
C. Negative
D. Rising
|
Test Questions