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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
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Question # 1
In the second stage of the law of variable of proportions the average product:
Question # 2
Internal economies of scale include
Question # 3
during short period, diminishing returns may follow because
Question # 4
Economies and diseconomies of scale determine the shape of
Question # 5
Law of diminishing returns is a universal law as:
Question # 6
When MP curve cuts AP curve, the AP is at its.
Question # 7
The government constructed a new water reservoir for the purpose of irrigation; this might be taken as
Question # 8
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 # 9
The slopes of average and marginal products curves are always zero under:
Question # 10
Commercial economics are a pat of:
Question # 11
In law of diminishing returns at least one factor
Question # 12
If in a production process, all inputs are increased by 10% and output increase by less than 10%, then it is called
Question # 13
When diseconomies of scale outweigh economies of scale the
Question # 14
Which of the following is example of external economies of scale?
Question # 15
An important factor which promotes large scale production is:
Question # 16
Which one is the third stage of production under law of variable proportions
Question # 17
When total product falls, marginal product is.
Question # 18
Economies of scale
Question # 19
The production function relates to
Question # 20
Marginal product indicates rate of change of
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 | Economies and diseconomies of scale determine the shape of |
A. long run AC curve
B. short run AC
C. average fixed cost
D. none of the above
|
| 2 | When average product (AP) and marginal product (MP) are rising. |
A. AP > MP
B. AP = MP
C. AP < MP
D. AP = MP = 0
|
| 3 | When MP is zero, TP is |
A. minimum
B. maximum
C. rising
D. falling
|
| 4 | The law of variable proportions was presented by. |
A. David Ricords
B. Alfred Marshall
C. W.J.L. Ryan
D. Pareto
|
| 5 | 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 |
A. MP of labour is grater than AP of labour
B. additional workers are more efficient
C. MP and AP are equal
D. AP is maximum
|
| 6 | When total product rises marginal product. |
A. Remains the same
B. Falls
C. Also rises
D. None of the three
|
| 7 | 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
|
| 8 | The production function relates to |
A. cost of output
B. cost of input
C. output to input
D. demand to output
|
| 9 | Law of diminishing returns applies more in: |
A. Industry
B. Agriculture
C. Mining
D. Construction
|
| 10 | The concept of internal and external economics was given by. |
A. Adam Smith
B. Robbins
C. J.M.Keynes
D. Alfred Marshall
|
Test Questions
