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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
00:00
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
The concept of internal and external economics was given by.
Question # 3
Which one will determine scale of production .
Question # 4
The law of variable proportions was presented by.
Question # 5
Which one is the small scale production.
Question # 6
The law of variable proportions was presented by.
Question # 7
When total product rises marginal product.
Question # 8
When MP is zero, TP is
Question # 9
Law of decreasing returns generates
Question # 10
In production of goods, negative returns in the short run imply that
Question # 11
Which of the following saying describes diminishing marginal returns in the short run?
Question # 12
Which one is the third stage of production under law of variable proportions
Question # 13
When total product (TP) reaches its maximum, Marginal product (MP) is_
Question # 14
When diseconomies of scale outweigh economies of scale the
Question # 15
The maximum point of TP curve is at quantity of labour where
Question # 16
Economies of scale
Question # 17
Internal economies of scale include
Question # 18
When business expands beyond its optimum level what type of economics will it be getting.
Question # 19
When MP curve cuts AP curve, the AP is at its.
Question # 20
Law of diminishing returns is a universal law as:
ICS Part 1 Economics Chapter 11 MCQs 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 | 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
|
| 2 | Laws of return apply to firms working in |
A. perfect competition
B. monopoly
C. small firm
D. all kinds of market situations
|
| 3 | Internal economies of scale include |
A. risk-bearing economics
B. trade mark
C. managerial economies
D. a and c of above
|
| 4 | 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
|
| 5 | Law of decreasing returns generates |
A. law of economic growth
B. law of increasing costs
C. law of variable costs
D. law of decreasing costs
|
| 6 | 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
|
| 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 | The concept of internal and external economics was given by. |
A. Adam Smith
B. Robbins
C. J.M.Keynes
D. Alfred Marshall
|
| 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 MP is zero, TP is |
A. minimum
B. maximum
C. rising
D. falling
|
Test Questions
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