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

ICS Part 1 Economics Chapter 11 Test

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ICS Part 1 Economics Chapter Wise Test

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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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

When business expands beyond its optimum level what type of economics will it be getting.

Question # 3

When total product falls, marginal product is.

Question # 4

Economies of scale

Question # 5

The production function relates to

Question # 6

The law of variable proportions was presented by.

Question # 7

The government constructed a new water reservoir for the purpose of irrigation; this might be taken as

Question # 8

When MP curve cuts AP curve, the AP is at its.

Question # 9

When average product (AP) and marginal product (MP) are rising.

Question # 10

In production of goods, negative returns in the short run imply that

Question # 11

When MP is zero, TP is

Question # 12

If in a production process, all inputs are increased by 10% and output increase by less than 10%, then it is called

Question # 13

The concept of internal and external economics was given by.

Question # 14

Marginal product indicates rate of change of

Question # 15

Which one is the third stage of production under law of variable proportions

Question # 16

When diseconomies of scale outweigh economies of scale the

Question # 17

Commercial economics are a pat of:

Question # 18

Which one will determine scale of production .

Question # 19

Which of the following is example of external economies of scale?

Question # 20

The law of variable proportions was presented by.

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ICS Part 1 Economics Chapter 11 MCQs Test

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ICS Part 1 Economics Chapter 11 Important MCQ's

Sr.# Question Answer
1 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
2 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
3 Marginal product curve intersects average product curve when AP curve is
A. minimum
B. maximum
C. rising
D. falling
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
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
5 The law of variable proportions was presented by.
A. Jevens
B. Rayon
C. Hicks
D. Valentine
6 Law of diminishing returns applies more in:
A. Industry
B. Agriculture
C. Mining
D. Construction
7 Which one will determine scale of production .
A. Financial resources
B. Production techniques
C. Extant of the market
D. All the above
8 Commercial economics are a pat of:
A. Internal economics
B. External economics
C. Economies of scale
D. None of the three
9 The law of variable proportions was presented by.
A. David Ricords
B. Alfred Marshall
C. W.J.L. Ryan
D. Pareto
10 Law of diminishing returns is a universal law as:
A. It does apply in all aspects of an economy.
B. Basically it applies in agriculture.
C. It is hard to check it.
D. It applies in industry as well

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