11th class Economics chapter 11 online mcq test with answers for ICS part 1 Economics chapter 11 (Scale of Production and Laws of Returns)

Question # 1

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

Zero A
Positive B
Negative C
Rising D

Question # 2

The production function relates to

cost of output A
cost of input B
output to input C
demand to output D

Question # 3

The law of variable proportions was presented by.

David Ricords A
Alfred Marshall B
W.J.L. Ryan C
Pareto D

Question # 4

Laws of return apply to firms working in

perfect competition A
monopoly B
small firm C
all kinds of market situations D

Question # 5

Economies and diseconomies of scale determine the shape of

long run AC curve A
short run AC B
average fixed cost C
none of the above D

Question # 6

When total product falls, marginal product is.

Zero A
Positive B
Negative C
Falling D

Question # 7

Law of diminishing returns is a universal law as:

It does apply in all aspects of an economy. A
Basically it applies in agriculture. B
It is hard to check it. C
It applies in industry as well D

Question # 8

When average product falls marginal product

Rises A
Also falls B
Remain equal to average product C
Does not change D

Question # 9

When MP is zero, TP is

minimum A
maximum B
rising C
falling D

Question # 10

Economies of scale

occur when increase in input less than proportionate increase in output A
suggest that firm's marginal cost curve lies above its average cost curve B
suggest that the firm's marginal cost curve is declining C
occur when average cost is falling D

Question # 11

When MP curve cuts AP curve, the AP is at its.

Lowest point A
Highest point B
Neither of the two C
Eighter of the two D

Question # 12

Commercial economics are a pat of:

Internal economics A
External economics B
Economies of scale C
None of the three D

Question # 13

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

average product is negative A
total product is negative B
marginal product is negative C
marginal cost is falling D

Question # 14

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

Average physical product of labour is equal to 1 A
MPP of labour is at its maximum B
curves of APP and MPP of labour intersect C
MPP of labour is zero D

Question # 15

Marginal product curve intersects average product curve when AP curve is

minimum A
maximum B
rising C
falling D

Question # 16

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

Discount on purchases of raw materials A
Technical progress leads to development of machines at low price B
Hiring of specialized staff due to increase in scale of production C
A firm starts producing by products D

Question # 17

When business expands beyond its optimum level what type of economics will it be getting.

Diseconomies A
Internal economies B
External economies C
Maanagerial economics D

Question # 18

Which one is the small scale production.

Bata shoe factory A
A barber shop B
kohinoor Textile Industries C
Sufi soap D

Question # 19

Law of diminishing returns applies more in:

Industry A
Agriculture B
Mining C
Construction D

Question # 20

The law of increasing returns is also known as:

Law of increasing cost A
Law of diminishing cost B
Law of constant cost C
None of the three D

Sr.#	Question	Answer
1	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
2	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
3	Law of diminishing returns applies more in:	A. Industry B. Agriculture C. Mining D. Construction
4	Marginal product curve intersects average product curve when AP curve is	A. minimum B. maximum C. rising D. falling
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	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
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	Which one is the small scale production.	A. Bata shoe factory B. A barber shop C. kohinoor Textile Industries D. Sufi soap
9	The law of variable proportions was presented by.	A. Jevens B. Rayon C. Hicks D. Valentine
10	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

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First Year Economics Chapter 11 Online MCQ Test for 1st Year Economics Chapter 11 (Scale of Production and Laws of Returns)

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MCQ's Test For Chapter 11 "Economics Ics Part 1 English Medium Chapter 11 Online Test"

Economics Ics Part 1 English Medium Chapter 11 Online Test

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

The production function relates to

The law of variable proportions was presented by.

Laws of return apply to firms working in

Economies and diseconomies of scale determine the shape of

When total product falls, marginal product is.

Law of diminishing returns is a universal law as:

When average product falls marginal product

When MP is zero, TP is

Economies of scale

When MP curve cuts AP curve, the AP is at its.

Commercial economics are a pat of:

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

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

Marginal product curve intersects average product curve when AP curve is

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

When business expands beyond its optimum level what type of economics will it be getting.

Which one is the small scale production.

Law of diminishing returns applies more in:

The law of increasing returns is also known as:

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