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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
The law of variable proportions was presented by.
Question # 3
Law of diminishing returns applies more in:
Question # 4
When total product rises marginal product.
Question # 5
When average product falls marginal product
Question # 6
The law of variable proportions was presented by.
Question # 7
In law of diminishing returns at least one factor
Question # 8
The slopes of average and marginal products curves are always zero under:
Question # 9
Law of diminishing returns is a universal law as:
Question # 10
When diseconomies of scale outweigh economies of scale the
Question # 11
The government constructed a new water reservoir for the purpose of irrigation; this might be taken as
Question # 12
Internal economies of scale include
Question # 13
When MP curve cuts AP curve, the AP is at its.
Question # 14
Commercial economics are a pat of:
Question # 15
Economics of scale are of two kinds
Question # 16
In production of goods, negative returns in the short run imply that
Question # 17
during short period, diminishing returns may follow because
Question # 18
The production function relates to
Question # 19
When MP is zero, TP is
Question # 20
In the second stage of the law of variable of proportions the average product:
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 | 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 | 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
|
| 3 | The law of variable proportions was presented by. |
A. Jevens
B. Rayon
C. Hicks
D. Valentine
|
| 4 | The slopes of average and marginal products curves are always zero under: |
A. Law of increasing returns
B. Law of diminishing returns
C. Law of constant returns
D. Law of variable propoitions
|
| 5 | Law of decreasing returns generates |
A. law of economic growth
B. law of increasing costs
C. law of variable costs
D. law of decreasing costs
|
| 6 | 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
|
| 7 | Economics of scale are of two kinds |
A. temporary and permanent
B. internal and external
C. managerial and industrial
D. natural and artificial
|
| 8 | The law of variable proportions was presented by. |
A. David Ricords
B. Alfred Marshall
C. W.J.L. Ryan
D. Pareto
|
| 9 | Which one is the small scale production. |
A. Bata shoe factory
B. A barber shop
C. kohinoor Textile Industries
D. Sufi soap
|
| 10 | 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
|
Test Questions