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

ICS Part 1 Economics Chapter 11 Test

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ICS Part 1 Economics Chapter Wise Test

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"

  • Total Questions20

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Economics Ics Part 1 English Medium Chapter 11 Online Test

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Question # 1

The government constructed a new water reservoir for the purpose of irrigation; this might be taken as

Question # 2

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

Question # 3

If in a production process, all inputs are increased by 10% and output increase by less than 10%, then it is called

Question # 4

Commercial economics are a pat of:

Question # 5

The production function relates to

Question # 6

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 # 7

Marginal product curve intersects average product curve when AP curve is

Question # 8

When MP is zero, TP is

Question # 9

Which one will determine scale of production .

Question # 10

during short period, diminishing returns may follow because

Question # 11

Economies and diseconomies of scale determine the shape of

Question # 12

When average product (AP) and marginal product (MP) are rising.

Question # 13

Economies of scale

Question # 14

Laws of return apply to firms working in

Question # 15

Which one is the third stage of production under law of variable proportions

Question # 16

The law of increasing returns is also known as:

Question # 17

In the second stage of the law of variable of proportions the average product:

Question # 18

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

Question # 19

The slopes of average and marginal products curves are always zero under:

Question # 20

Which of the following saying describes diminishing marginal returns in the short run?

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ICS Part 1 Economics Chapter 11 MCQs Test

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ICS Part 1 Economics Chapter 11 Important MCQ's

Sr.# Question Answer
1 The slopes of average and marginal products curves are always zero under:
A. Law of increasing returns
B. Law of diminishing returns
C. Law of constant returns
D. Law of variable propoitions
2 Marginal product indicates rate of change of
A. total product
B. average product
C. variable product
D. all of the above
3 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
4 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
5 Economies of scale
A. occur when increase in input less than proportionate increase in output
B. suggest that firm's marginal cost curve lies above its average cost curve
C. suggest that the firm's marginal cost curve is declining
D. occur when average cost is falling
6 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
7 When average product (AP) and marginal product (MP) are rising.
A. AP > MP
B. AP = MP
C. AP < MP
D. AP = MP = 0
8 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
9 Law of diminishing returns applies more in:
A. Industry
B. Agriculture
C. Mining
D. Construction
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

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