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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
MCQ's Test For Chapter 11 "Economics Ics Part 1 English Medium Chapter 11 Online Test"
Try The MCQ's Test For Chapter 11 "Economics Ics Part 1 English Medium Chapter 11 Online Test"
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Total Questions20
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Time Allowed30
Economics Ics Part 1 English Medium Chapter 11 Online Test
00:00
Question # 1
Economies of scale
Question # 2
Which of the following saying describes diminishing marginal returns in the short run?
Question # 3
Commercial economics are a pat of:
Question # 4
Economies and diseconomies of scale determine the shape of
Question # 5
In production of goods, negative returns in the short run imply that
Question # 6
The concept of internal and external economics was given by.
Question # 7
The maximum point of TP curve is at quantity of labour where
Question # 8
The law of variable proportions was presented by.
Question # 9
Economics of scale are of two kinds
Question # 10
When average product (AP) and marginal product (MP) are rising.
Question # 11
during short period, diminishing returns may follow because
Question # 12
Which one is the small scale production.
Question # 13
When average product falls marginal product
Question # 14
When total product (TP) reaches its maximum, Marginal product (MP) is_
Question # 15
Internal economies of scale include
Question # 16
The law of increasing returns is also known as:
Question # 17
When business expands beyond its optimum level what type of economics will it be getting.
Question # 18
When diseconomies of scale outweigh economies of scale the
Question # 19
Law of diminishing returns applies more in:
Question # 20
Law of diminishing returns is a universal law as:
ICS Part 1 Economics Chapter 11 MCQs Test
Top Scorers Of Chapter 11 "Economics Ics Part 1 English Medium Chapter 11 Online Test" MCQ`s Test
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M Maheen 20 - Feb - 2021 05 Min 36 Sec 19/20 -
A Ali Hassan 10 - Sep - 2022 04 Min 52 Sec 17/20 -
K Kazim 27 - Dec - 2017 05 Min 23 Sec 17/20 -
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Z Zahra 06 - Jul - 2021 02 Min 01 Sec 13/20
ICS Part 1 Economics Chapter 11 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | Laws of return apply to firms working in |
A. perfect competition
B. monopoly
C. small firm
D. all kinds of market situations
|
| 3 | Commercial economics are a pat of: |
A. Internal economics
B. External economics
C. Economies of scale
D. None of the three
|
| 4 | 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
|
| 5 | Economics of scale are of two kinds |
A. temporary and permanent
B. internal and external
C. managerial and industrial
D. natural and artificial
|
| 6 | When average product falls marginal product |
A. Rises
B. Also falls
C. Remain equal to average product
D. Does not change
|
| 7 | When total product (TP) reaches its maximum, Marginal product (MP) is_ |
A. Zero
B. Positive
C. Negative
D. Rising
|
| 8 | In production of goods, negative returns in the short run imply that |
A. average product is negative
B. total product is negative
C. marginal product is negative
D. marginal cost is falling
|
| 9 | Economies and diseconomies of scale determine the shape of |
A. long run AC curve
B. short run AC
C. average fixed cost
D. none of the above
|
| 10 | In law of diminishing returns at least one factor |
A. must be constant
B. must be owned by the firm
C. must be purchasable
D. must be efficient
|
Test Questions
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