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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
Which one is the small scale production.
Question # 2
Law of diminishing returns is a universal law as:
Question # 3
When total product falls, marginal product is.
Question # 4
The law of variable proportions was presented by.
Question # 5
Economies of scale
Question # 6
Laws of return apply to firms working in
Question # 7
The maximum point of TP curve is at quantity of labour where
Question # 8
Internal economies of scale include
Question # 9
during short period, diminishing returns may follow because
Question # 10
Which of the following is example of external economies of scale?
Question # 11
The slopes of average and marginal products curves are always zero under:
Question # 12
In production of goods, negative returns in the short run imply that
Question # 13
The law of increasing returns is also known as:
Question # 14
Law of diminishing returns applies more in:
Question # 15
If in a production process, all inputs are increased by 10% and output increase by less than 10%, then it is called
Question # 16
In the second stage of the law of variable of proportions the average product:
Question # 17
When MP is zero, TP is
Question # 18
Marginal product indicates rate of change of
Question # 19
When average product falls marginal product
Question # 20
An important factor which promotes large scale production 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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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 -
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 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 | The concept of internal and external economics was given by. |
A. Adam Smith
B. Robbins
C. J.M.Keynes
D. Alfred Marshall
|
| 3 | Marginal product indicates rate of change of |
A. total product
B. average product
C. variable product
D. all of the above
|
| 4 | 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
|
| 5 | Law of diminishing returns applies more in: |
A. Industry
B. Agriculture
C. Mining
D. Construction
|
| 6 | 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
|
| 7 | When diseconomies of scale outweigh economies of scale the |
A. long run AC curve rises
B. marginal cost falls
C. long run ATC curve falls
D. AVC falls
|
| 8 | Which one is the small scale production. |
A. Bata shoe factory
B. A barber shop
C. kohinoor Textile Industries
D. Sufi soap
|
| 9 | When total product falls, marginal product is. |
A. Zero
B. Positive
C. Negative
D. Falling
|
| 10 | When total product (TP) reaches its maximum, Marginal product (MP) is_ |
A. Zero
B. Positive
C. Negative
D. Rising
|
Test Questions