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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
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 # 2
during short period, diminishing returns may follow because
Question # 3
Which of the following is example of external economies of scale?
Question # 4
Economies of scale
Question # 5
Which of the following saying describes diminishing marginal returns in the short run?
Question # 6
When total product falls, marginal product is.
Question # 7
An important factor which promotes large scale production is:
Question # 8
The government constructed a new water reservoir for the purpose of irrigation; this might be taken as
Question # 9
The law of increasing returns is also known as:
Question # 10
When average product (AP) and marginal product (MP) are rising.
Question # 11
Law of diminishing returns is a universal law as:
Question # 12
Economics of scale are of two kinds
Question # 13
Law of diminishing returns applies more in:
Question # 14
When business expands beyond its optimum level what type of economics will it be getting.
Question # 15
In law of diminishing returns at least one factor
Question # 16
The law of variable proportions was presented by.
Question # 17
If in a production process, all inputs are increased by 10% and output increase by less than 10%, then it is called
Question # 18
Commercial economics are a pat of:
Question # 19
The production function relates to
Question # 20
Which one will determine scale of production .
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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S Shaista zarin 24 - Jan - 2018 03 Min 25 Sec 19/20 -
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 -
H Humaira 26 - Jan - 2018 05 Min 54 Sec 17/20 -
R romana 24 - Jun - 2021 06 Min 19 Sec 17/20 -
H hijab 06 - Oct - 2018 09 Min 04 Sec 17/20 -
M Madiha 26 - Dec - 2020 03 Min 31 Sec 16/20 -
M M.Attiq-U-Rehman 25 - Nov - 2023 03 Min 37 Sec 16/20 -
S shrushti 22 - Feb - 2021 06 Min 11 Sec 16/20 -
M Maida 26 - May - 2018 05 Min 10 Sec 14/20 -
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 | In the second stage of the law of variable of proportions the average product: |
A. Rises
B. Remains constant
C. Falls
D. None of the three
|
| 2 | 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
|
| 3 | 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
|
| 4 | When average product (AP) and marginal product (MP) are rising. |
A. AP > MP
B. AP = MP
C. AP < MP
D. AP = MP = 0
|
| 5 | Economics of scale are of two kinds |
A. temporary and permanent
B. internal and external
C. managerial and industrial
D. natural and artificial
|
| 6 | When total product (TP) reaches its maximum, Marginal product (MP) is_ |
A. Zero
B. Positive
C. Negative
D. Rising
|
| 7 | When total product rises marginal product. |
A. Remains the same
B. Falls
C. Also rises
D. None of the three
|
| 8 | 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
|
| 9 | Commercial economics are a pat of: |
A. Internal economics
B. External economics
C. Economies of scale
D. None of the three
|
| 10 | The law of variable proportions was presented by. |
A. Jevens
B. Rayon
C. Hicks
D. Valentine
|
Test Questions
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