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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
When total product (TP) reaches its maximum, Marginal product (MP) is_
Question # 2
Economics of scale are of two kinds
Question # 3
The law of variable proportions was presented by.
Question # 4
Law of decreasing returns generates
Question # 5
When average product falls marginal product
Question # 6
When business expands beyond its optimum level what type of economics will it be getting.
Question # 7
When MP is zero, TP is
Question # 8
In production of goods, negative returns in the short run imply that
Question # 9
Which one is the third stage of production under law of variable proportions
Question # 10
Which of the following is example of external economies of scale?
Question # 11
The maximum point of TP curve is at quantity of labour where
Question # 12
In the second stage of the law of variable of proportions the average product:
Question # 13
Law of diminishing returns is a universal law as:
Question # 14
In law of diminishing returns at least one factor
Question # 15
The slopes of average and marginal products curves are always zero under:
Question # 16
Which of the following saying describes diminishing marginal returns in the short run?
Question # 17
When total product rises marginal product.
Question # 18
Economies of scale
Question # 19
during short period, diminishing returns may follow because
Question # 20
When diseconomies of scale outweigh economies of scale the
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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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 -
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A Adil 04 - Jan - 2018 06 Min 32 Sec 14/20 -
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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 law of increasing returns is also known as: |
A. Law of increasing cost
B. Law of diminishing cost
C. Law of constant cost
D. None of the three
|
| 2 | Which one is the small scale production. |
A. Bata shoe factory
B. A barber shop
C. kohinoor Textile Industries
D. Sufi soap
|
| 3 | When average product falls marginal product |
A. Rises
B. Also falls
C. Remain equal to average product
D. Does not change
|
| 4 | Marginal product indicates rate of change of |
A. total product
B. average product
C. variable product
D. all of the above
|
| 5 | In the second stage of the law of variable of proportions the average product: |
A. Rises
B. Remains constant
C. Falls
D. None of the three
|
| 6 | 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
|
| 7 | 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
|
| 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 | 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 | When total product rises marginal product. |
A. Remains the same
B. Falls
C. Also rises
D. None of the three
|
Test Questions
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