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

Internal economies of scale include

Question # 2

When MP is zero, TP is

Question # 3

Economies of scale

Question # 4

Which one is the small scale production.

Question # 5

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

Question # 6

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

Question # 7

Commercial economics are a pat of:

Question # 8

Law of diminishing returns applies more in:

Question # 9

When total product falls, marginal product is.

Question # 10

Economies and diseconomies of scale determine the shape of

Question # 11

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

Question # 12

Law of diminishing returns is a universal law as:

Question # 13

Economics of scale are of two kinds

Question # 14

When total product rises marginal product.

Question # 15

The law of variable proportions was presented by.

Question # 16

In law of diminishing returns at least one factor

Question # 17

The concept of internal and external economics was given by.

Question # 18

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

Question # 19

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

Question # 20

When diseconomies of scale outweigh economies of scale the

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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 Internal economies of scale include
A. risk-bearing economics
B. trade mark
C. managerial economies
D. a and c of above
2 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
3 When average product (AP) and marginal product (MP) are rising.
A. AP > MP
B. AP = MP
C. AP < MP
D. AP = MP = 0
4 The law of variable proportions was presented by.
A. David Ricords
B. Alfred Marshall
C. W.J.L. Ryan
D. Pareto
5 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
6 The production function relates to
A. cost of output
B. cost of input
C. output to input
D. demand to output
7 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
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 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
10 When total product falls, marginal product is.
A. Zero
B. Positive
C. Negative
D. Falling

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