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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 rises marginal product.
Question # 2
An important factor which promotes large scale production is:
Question # 3
The government constructed a new water reservoir for the purpose of irrigation; this might be taken as
Question # 4
When business expands beyond its optimum level what type of economics will it be getting.
Question # 5
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 # 6
If in a production process, all inputs are increased by 10% and output increase by less than 10%, then it is called
Question # 7
Which one is the third stage of production under law of variable proportions
Question # 8
during short period, diminishing returns may follow because
Question # 9
When total product falls, marginal product is.
Question # 10
When MP curve cuts AP curve, the AP is at its.
Question # 11
Which of the following is example of external economies of scale?
Question # 12
When average product falls marginal product
Question # 13
Law of decreasing returns generates
Question # 14
Internal economies of scale include
Question # 15
Economics of scale are of two kinds
Question # 16
The law of increasing returns is also known as:
Question # 17
Which one will determine scale of production .
Question # 18
The maximum point of TP curve is at quantity of labour where
Question # 19
Which one is the small scale production.
Question # 20
Law of diminishing returns applies more in:
ICS Part 1 Economics Chapter 11 MCQs 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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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 production function relates to |
A. cost of output
B. cost of input
C. output to input
D. demand to output
|
| 2 | In law of diminishing returns at least one factor |
A. must be constant
B. must be owned by the firm
C. must be purchasable
D. must be efficient
|
| 3 | 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
|
| 4 | When MP is zero, TP is |
A. minimum
B. maximum
C. rising
D. falling
|
| 5 | When MP curve cuts AP curve, the AP is at its. |
A. Lowest point
B. Highest point
C. Neither of the two
D. Eighter of the two
|
| 6 | Marginal product indicates rate of change of |
A. total product
B. average product
C. variable product
D. all of the above
|
| 7 | 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
|
| 8 | Commercial economics are a pat of: |
A. Internal economics
B. External economics
C. Economies of scale
D. None of the three
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| 9 | 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
|
| 10 | Law of diminishing returns applies more in: |
A. Industry
B. Agriculture
C. Mining
D. Construction
|
Test Questions
