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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
When total product rises marginal product.
Question # 2
The production function relates to
Question # 3
Commercial economics are a pat of:
Question # 4
Law of diminishing returns is a universal law as:
Question # 5
Marginal product indicates rate of change of
Question # 6
In production of goods, negative returns in the short run imply that
Question # 7
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 # 8
Which one is the small scale production.
Question # 9
Economies of scale
Question # 10
The law of variable proportions was presented by.
Question # 11
When diseconomies of scale outweigh economies of scale the
Question # 12
Laws of return apply to firms working in
Question # 13
Economies and diseconomies of scale determine the shape of
Question # 14
An important factor which promotes large scale production is:
Question # 15
When MP curve cuts AP curve, the AP is at its.
Question # 16
Law of diminishing returns applies more in:
Question # 17
Economics of scale are of two kinds
Question # 18
Which one will determine scale of production .
Question # 19
Internal economies of scale include
Question # 20
In the second stage of the law of variable of proportions the average product:
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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A Adil 04 - Jan - 2018 06 Min 32 Sec 14/20 -
M Muhammad umer 06 - Aug - 2018 08 Min 22 Sec 14/20 -
R romana 27 - Dec - 2018 19 Min 16 Sec 14/20 -
Z Zahra 06 - Jul - 2021 02 Min 01 Sec 13/20
ICS Part 1 Economics Chapter 11 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | When business expands beyond its optimum level what type of economics will it be getting. |
A. Diseconomies
B. Internal economies
C. External economies
D. Maanagerial economics
|
| 2 | Commercial economics are a pat of: |
A. Internal economics
B. External economics
C. Economies of scale
D. None of the three
|
| 3 | When average product falls marginal product |
A. Rises
B. Also falls
C. Remain equal to average product
D. Does not change
|
| 4 | Economics of scale are of two kinds |
A. temporary and permanent
B. internal and external
C. managerial and industrial
D. natural and artificial
|
| 5 | 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
|
| 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 | 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
|
| 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
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| 9 | 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
|
| 10 | Which one will determine scale of production . |
A. Financial resources
B. Production techniques
C. Extant of the market
D. All the above
|
Test Questions
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