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11th Chapter

ICS Part 1 Economics Chapter 11 MCQs Test

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

First Year Economics Chapter 11 Online MCQ Test for 1st Year Economics Chapter 11 (Scale of Production and Laws of Returns)

Sr. # Questions Answers Choice
1 Economics of scale are of two kinds
  • A. temporary and permanent
  • B. internal and external
  • C. managerial and industrial
  • D. natural and artificial
2 Which one is the small scale production.
  • A. Bata shoe factory
  • B. A barber shop
  • C. kohinoor Textile Industries
  • D. Sufi soap
3 Internal economies of scale include
  • A. risk-bearing economics
  • B. trade mark
  • C. managerial economies
  • D. a and c of above
4 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
5 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
6 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
7 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
8 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
9 Which one will determine scale of production .
  • A. Financial resources
  • B. Production techniques
  • C. Extant of the market
  • D. All the above
10 The concept of internal and external economics was given by.
  • A. Adam Smith
  • B. Robbins
  • C. J.M.Keynes
  • D. Alfred Marshall

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