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11th Chapter

ICS Part 1 Economics Chapter 11 MCQs Test

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

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

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

Sr. # Questions Answers Choice
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 Marginal product indicates rate of change of
  • A. total product
  • B. average product
  • C. variable product
  • D. all of the above
3 When total product rises marginal product.
  • A. Remains the same
  • B. Falls
  • C. Also rises
  • D. None of the three
4 The production function relates to
  • A. cost of output
  • B. cost of input
  • C. output to input
  • D. demand to output
5 Which one will determine scale of production .
  • A. Financial resources
  • B. Production techniques
  • C. Extant of the market
  • D. All the above
6 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
7 Laws of return apply to firms working in
  • A. perfect competition
  • B. monopoly
  • C. small firm
  • D. all kinds of market situations
8 The law of variable proportions was presented by.
  • A. David Ricords
  • B. Alfred Marshall
  • C. W.J.L. Ryan
  • D. Pareto
9 during short period, diminishing returns may follow because
  • A. quantity of labour is fixed
  • B. quality of labour is fixed
  • C. quantity of capital is fixed
  • D. quantity of any one factor is fixed
10 The concept of internal and external economics was given by.
  • A. Adam Smith
  • B. Robbins
  • C. J.M.Keynes
  • D. Alfred Marshall

Top Scorers of Economics Ics Part 1 English Medium Chapter 11 Online Test

A

Ali Jutt

Lahore31 - May - 2024

12/20
05 Mins 36 Sec
A

Asim Khan Wazir

Lahore07 - May - 2024

12/20
06 Mins 19 Sec

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