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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
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Question # 1
Which of the following is example of external economies of scale?
Question # 2
In the second stage of the law of variable of proportions the average product:
Question # 3
The concept of internal and external economics was given by.
Question # 4
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 # 5
Which one is the small scale production.
Question # 6
When total product rises marginal product.
Question # 7
When total product (TP) reaches its maximum, Marginal product (MP) is_
Question # 8
Economics of scale are of two kinds
Question # 9
Law of diminishing returns applies more in:
Question # 10
The slopes of average and marginal products curves are always zero under:
Question # 11
When MP is zero, TP is
Question # 12
Internal economies of scale include
Question # 13
Law of diminishing returns is a universal law as:
Question # 14
The maximum point of TP curve is at quantity of labour where
Question # 15
When average product falls marginal product
Question # 16
The law of variable proportions was presented by.
Question # 17
In law of diminishing returns at least one factor
Question # 18
Which of the following saying describes diminishing marginal returns in the short run?
Question # 19
In production of goods, negative returns in the short run imply that
Question # 20
Marginal product curve intersects average product curve when AP curve is
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 | 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
|
| 2 | 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
|
| 3 | 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
|
| 4 | 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
|
| 5 | If in a production process, all inputs are increased by 10% and output increase by less than 10%, then it is called |
A. economies of scale
B. diseconomies of scale
C. diminishing marginal returns
D. negative economies
|
| 6 | When average product falls marginal product |
A. Rises
B. Also falls
C. Remain equal to average product
D. Does not change
|
| 7 | The law of variable proportions was presented by. |
A. Jevens
B. Rayon
C. Hicks
D. Valentine
|
| 8 | When total product (TP) reaches its maximum, Marginal product (MP) is_ |
A. Zero
B. Positive
C. Negative
D. Rising
|
| 9 | The production function relates to |
A. cost of output
B. cost of input
C. output to input
D. demand to output
|
| 10 | Laws of return apply to firms working in |
A. perfect competition
B. monopoly
C. small firm
D. all kinds of market situations
|
Test Questions