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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
during short period, diminishing returns may follow because
Question # 2
An important factor which promotes large scale production is:
Question # 3
Internal economies of scale include
Question # 4
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
Question # 5
Law of diminishing returns applies more in:
Question # 6
The law of increasing returns is also known as:
Question # 7
Economics of scale are of two kinds
Question # 8
Law of diminishing returns is a universal law as:
Question # 9
In law of diminishing returns at least one factor
Question # 10
Law of decreasing returns generates
Question # 11
The law of variable proportions was presented by.
Question # 12
When average product falls marginal product
Question # 13
Which one will determine scale of production .
Question # 14
Commercial economics are a pat of:
Question # 15
When total product rises marginal product.
Question # 16
When total product falls, marginal product is.
Question # 17
The government constructed a new water reservoir for the purpose of irrigation; this might be taken as
Question # 18
Which one is the small scale production.
Question # 19
In production of goods, negative returns in the short run imply that
Question # 20
Marginal product curve intersects average product curve when AP curve is
ICS Part 1 Economics Chapter 11 MCQs 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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ICS Part 1 Class Economics Chapter 11 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Marginal product curve intersects average product curve when AP curve is |
A. minimum
B. maximum
C. rising
D. falling
|
| 2 | 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
|
| 3 | Internal economies of scale include |
A. risk-bearing economics
B. trade mark
C. managerial economies
D. a and c of above
|
| 4 | Law of diminishing returns applies more in: |
A. Industry
B. Agriculture
C. Mining
D. Construction
|
| 5 | Which one is the small scale production. |
A. Bata shoe factory
B. A barber shop
C. kohinoor Textile Industries
D. Sufi soap
|
| 6 | 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
|
| 7 | during short period, diminishing returns may follow because |
A. quantity of labour is fixed
B. quality of labour is fixed
C. quantity of capital is fixed
D. quantity of any one factor is fixed
|
| 8 | 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
|
| 9 | 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
|
| 10 | Law of diminishing returns is a universal law as: |
A. It does apply in all aspects of an economy.
B. Basically it applies in agriculture.
C. It is hard to check it.
D. It applies in industry as well
|
Test Questions
