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

  • Time Allowed30

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Economics Ics Part 1 English Medium Chapter 11 Online Test

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Question # 1

When total product falls, marginal product is.

Question # 2

Which one will determine scale of production .

Question # 3

When total product rises marginal product.

Question # 4

When total product (TP) reaches its maximum, Marginal product (MP) is_

Question # 5

Law of diminishing returns is a universal law as:

Question # 6

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

Question # 7

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

Question # 8

Laws of return apply to firms working in

Question # 9

When diseconomies of scale outweigh economies of scale the

Question # 10

Commercial economics are a pat of:

Question # 11

Marginal product indicates rate of change of

Question # 12

Economies and diseconomies of scale determine the shape of

Question # 13

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

Question # 14

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

Question # 15

The concept of internal and external economics was given by.

Question # 16

The maximum point of TP curve is at quantity of labour where

Question # 17

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

Question # 18

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

Question # 19

Which of the following saying describes diminishing marginal returns in the short run?

Question # 20

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

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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 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
2 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
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 Which one will determine scale of production .
A. Financial resources
B. Production techniques
C. Extant of the market
D. All the above
6 The production function relates to
A. cost of output
B. cost of input
C. output to input
D. demand to output
7 When total product falls, marginal product is.
A. Zero
B. Positive
C. Negative
D. Falling
8 Marginal product indicates rate of change of
A. total product
B. average product
C. variable product
D. all of the above
9 Which of the following is example of external economies of scale?
A. Discount on purchases of raw materials
B. Technical progress leads to development of machines at low price
C. Hiring of specialized staff due to increase in scale of production
D. A firm starts producing by products
10 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

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