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"

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Economics Ics Part 1 English Medium Chapter 11 Online Test

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Question # 1

Which one will determine scale of production .

Question # 2

during short period, diminishing returns may follow because

Question # 3

When total product rises marginal product.

Question # 4

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

Question # 5

The concept of internal and external economics was given by.

Question # 6

Laws of return apply to firms working in

Question # 7

The production function relates to

Question # 8

When average product falls marginal product

Question # 9

When total product falls, marginal product is.

Question # 10

Internal economies of scale include

Question # 11

Economics of scale are of two kinds

Question # 12

An important factor which promotes large scale production is:

Question # 13

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

Question # 14

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

Question # 15

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

Question # 16

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

Question # 17

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

Question # 18

When diseconomies of scale outweigh economies of scale the

Question # 19

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

Question # 20

Law of diminishing returns applies more in:

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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 Law of diminishing returns applies more in:
A. Industry
B. Agriculture
C. Mining
D. Construction
3 The law of variable proportions was presented by.
A. David Ricords
B. Alfred Marshall
C. W.J.L. Ryan
D. Pareto
4 Marginal product curve intersects average product curve when AP curve is
A. minimum
B. maximum
C. rising
D. falling
5 When MP is zero, TP is
A. minimum
B. maximum
C. rising
D. 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 The concept of internal and external economics was given by.
A. Adam Smith
B. Robbins
C. J.M.Keynes
D. Alfred Marshall
8 When total product rises marginal product.
A. Remains the same
B. Falls
C. Also rises
D. None of the three
9 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
10 When average product (AP) and marginal product (MP) are rising.
A. AP > MP
B. AP = MP
C. AP < MP
D. AP = MP = 0

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