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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 When average product falls marginal product
  • A. Rises
  • B. Also falls
  • C. Remain equal to average product
  • D. Does not change
2 Law of diminishing returns applies more in:
  • A. Industry
  • B. Agriculture
  • C. Mining
  • D. Construction
3 When total product falls, marginal product is.
  • A. Zero
  • B. Positive
  • C. Negative
  • D. Falling
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 Marginal product indicates rate of change of
  • A. total product
  • B. average product
  • C. variable product
  • D. all of the above
6 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
7 Which one is the third stage of production under law of variable proportions
  • A. Decreasing average returns
  • B. Increasing average return
  • C. Negative marginal return
  • D. Increasing marginal return
8 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
9 When MP is zero, TP is
  • A. minimum
  • B. maximum
  • C. rising
  • D. falling
10 When total product rises marginal product.
  • A. Remains the same
  • B. Falls
  • C. Also rises
  • D. None of the three

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