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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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

Commercial economics are a pat of:

Question # 2

When MP is zero, TP is

Question # 3

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

Question # 4

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

Question # 5

Law of decreasing returns generates

Question # 6

The law of variable proportions was presented by.

Question # 7

When total product falls, marginal product is.

Question # 8

Which one will determine scale of production .

Question # 9

Economics of scale are of two kinds

Question # 10

Law of diminishing returns applies more in:

Question # 11

When total product rises marginal product.

Question # 12

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

Question # 13

The concept of internal and external economics was given by.

Question # 14

An important factor which promotes large scale production is:

Question # 15

Marginal product curve intersects average product curve when AP curve is

Question # 16

The production function relates to

Question # 17

The law of increasing returns is also known as:

Question # 18

When average product falls marginal product

Question # 19

during short period, diminishing returns may follow because

Question # 20

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

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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 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
2 Economics of scale are of two kinds
A. temporary and permanent
B. internal and external
C. managerial and industrial
D. natural and artificial
3 Marginal product indicates rate of change of
A. total product
B. average product
C. variable product
D. all of the above
4 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
5 The production function relates to
A. cost of output
B. cost of input
C. output to input
D. demand to output
6 Which one will determine scale of production .
A. Financial resources
B. Production techniques
C. Extant of the market
D. All the above
7 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
8 The law of variable proportions was presented by.
A. Jevens
B. Rayon
C. Hicks
D. Valentine
9 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
10 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

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