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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MCQ's Test For Chapter 11 "Economics Ics Part 1 English Medium Chapter 11 Online Test"

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Economics Ics Part 1 English Medium Chapter 11 Online Test

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Question # 1

Law of decreasing returns generates

Question # 2

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

Question # 3

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

Question # 4

Economies of scale

Question # 5

Law of diminishing returns is a universal law as:

Question # 6

In the second stage of the law of variable of proportions the average product:

Question # 7

The production function relates to

Question # 8

during short period, diminishing returns may follow because

Question # 9

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 # 10

Which one will determine scale of production .

Question # 11

Commercial economics are a pat of:

Question # 12

The law of variable proportions was presented by.

Question # 13

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

Question # 14

When MP is zero, TP is

Question # 15

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

Question # 16

Marginal product indicates rate of change of

Question # 17

Marginal product curve intersects average product curve when AP curve is

Question # 18

The slopes of average and marginal products curves are always zero under:

Question # 19

In law of diminishing returns at least one factor

Question # 20

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

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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 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
2 Marginal product indicates rate of change of
A. total product
B. average product
C. variable product
D. all of the above
3 Commercial economics are a pat of:
A. Internal economics
B. External economics
C. Economies of scale
D. None of the three
4 Which one is the small scale production.
A. Bata shoe factory
B. A barber shop
C. kohinoor Textile Industries
D. Sufi soap
5 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
6 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
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 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
9 Economics of scale are of two kinds
A. temporary and permanent
B. internal and external
C. managerial and industrial
D. natural and artificial
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

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