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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
An important factor which promotes large scale production is:
Question # 2
The production function relates to
Question # 3
When MP is zero, TP is
Question # 4
Which of the following saying describes diminishing marginal returns in the short run?
Question # 5
The concept of internal and external economics was given by.
Question # 6
The maximum point of TP curve is at quantity of labour where
Question # 7
Which one is the third stage of production under law of variable proportions
Question # 8
Commercial economics are a pat of:
Question # 9
When total product rises marginal product.
Question # 10
The law of increasing returns is also known as:
Question # 11
In law of diminishing returns at least one factor
Question # 12
Law of diminishing returns is a universal law as:
Question # 13
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 # 14
When total product falls, marginal product is.
Question # 15
The government constructed a new water reservoir for the purpose of irrigation; this might be taken as
Question # 16
When total product (TP) reaches its maximum, Marginal product (MP) is_
Question # 17
When MP curve cuts AP curve, the AP is at its.
Question # 18
Laws of return apply to firms working in
Question # 19
When average product falls marginal product
Question # 20
The law of variable proportions was presented by.
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 | Which of the following is example of external economies of scale? |
A. Discount on purchases of raw materials
B. Technical progress leads to development of machines at low price
C. Hiring of specialized staff due to increase in scale of production
D. A firm starts producing by products
|
| 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 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
|
| 4 | 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
|
| 5 | When total product (TP) reaches its maximum, Marginal product (MP) is_ |
A. Zero
B. Positive
C. Negative
D. Rising
|
| 6 | 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
|
| 7 | The production function relates to |
A. cost of output
B. cost of input
C. output to input
D. demand to output
|
| 8 | When total product falls, marginal product is. |
A. Zero
B. Positive
C. Negative
D. Falling
|
| 9 | When total product rises marginal product. |
A. Remains the same
B. Falls
C. Also rises
D. None of the three
|
| 10 | 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
|
Test Questions
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