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

When diseconomies of scale outweigh economies of scale the

Question # 2

Internal economies of scale include

Question # 3

Commercial economics are a pat of:

Question # 4

Which one is the small scale production.

Question # 5

In law of diminishing returns at least one factor

Question # 6

Laws of return apply to firms working in

Question # 7

The law of increasing returns is also known as:

Question # 8

Marginal product indicates rate of change of

Question # 9

Which one will determine scale of production .

Question # 10

Economies and diseconomies of scale determine the shape of

Question # 11

Economies of scale

Question # 12

The law of variable proportions was presented by.

Question # 13

When total product rises marginal product.

Question # 14

Economics of scale are of two kinds

Question # 15

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

Question # 16

Law of diminishing returns applies more in:

Question # 17

When average product falls marginal product

Question # 18

during short period, diminishing returns may follow because

Question # 19

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

Question # 20

Law of diminishing returns is a universal law as:

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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 When average product (AP) and marginal product (MP) are rising.
A. AP > MP
B. AP = MP
C. AP < MP
D. AP = MP = 0
2 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
3 The maximum point of TP curve is at quantity of labour where
A. Average physical product of labour is equal to 1
B. MPP of labour is at its maximum
C. curves of APP and MPP of labour intersect
D. MPP of labour is zero
4 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
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 The production function relates to
A. cost of output
B. cost of input
C. output to input
D. demand to output
7 An important factor which promotes large scale production is:
A. Extant of market
B. Revolutionary changes in social life
C. Culture and civilization
D. All the three
8 When total product (TP) reaches its maximum, Marginal product (MP) is_
A. Zero
B. Positive
C. Negative
D. Rising
9 Internal economies of scale include
A. risk-bearing economics
B. trade mark
C. managerial economies
D. a and c of above
10 Commercial economics are a pat of:
A. Internal economics
B. External economics
C. Economies of scale
D. None of the three

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