11th class Economics chapter 11 online mcq test with answers for ICS part 1 Economics chapter 11 (Scale of Production and Laws of Returns)

Question # 1

The law of variable proportions was presented by.

Jevens A
Rayon B
Hicks C
Valentine D

Question # 2

Marginal product curve intersects average product curve when AP curve is

minimum A
maximum B
rising C
falling D

Question # 3

When MP curve cuts AP curve, the AP is at its.

Lowest point A
Highest point B
Neither of the two C
Eighter of the two D

Question # 4

When MP is zero, TP is

minimum A
maximum B
rising C
falling D

Question # 5

Law of decreasing returns generates

law of economic growth A
law of increasing costs B
law of variable costs C
law of decreasing costs D

Question # 6

Economics of scale are of two kinds

temporary and permanent A
internal and external B
managerial and industrial C
natural and artificial D

Question # 7

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

Discount on purchases of raw materials A
Technical progress leads to development of machines at low price B
Hiring of specialized staff due to increase in scale of production C
A firm starts producing by products D

Question # 8

The government constructed a new water reservoir for the purpose of irrigation; this might be taken as

increase in supply of capital A
increase in supply of land B
increase in supply of land and supply of capital C
none of these D

Question # 9

The concept of internal and external economics was given by.

Adam Smith A
Robbins B
J.M.Keynes C
Alfred Marshall D

Question # 10

The law of variable proportions was presented by.

David Ricords A
Alfred Marshall B
W.J.L. Ryan C
Pareto D

Question # 11

When total product falls, marginal product is.

Zero A
Positive B
Negative C
Falling D

Question # 12

Which of the following saying describes diminishing marginal returns in the short run?

When the cat is away, the mouse will play A
Too many cooks spoil the broth B
A rolling stone gathers no moss C
A stitch in time saves nine D

Question # 13

Internal economies of scale include

risk-bearing economics A
trade mark B
managerial economies C
a and c of above D

Question # 14

Economies of scale

occur when increase in input less than proportionate increase in output A
suggest that firm's marginal cost curve lies above its average cost curve B
suggest that the firm's marginal cost curve is declining C
occur when average cost is falling D

Question # 15

When total product rises marginal product.

Remains the same A
Falls B
Also rises C
None of the three D

Question # 16

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

AP > MP A
AP = MP B
AP < MP C
AP = MP = 0 D

Question # 17

during short period, diminishing returns may follow because

quantity of labour is fixed A
quality of labour is fixed B
quantity of capital is fixed C
quantity of any one factor is fixed D

Question # 18

When average product falls marginal product

Rises A
Also falls B
Remain equal to average product C
Does not change D

Question # 19

When total product (TP) reaches its maximum, Marginal product (MP) is_

Zero A
Positive B
Negative C
Rising D

Question # 20

The production function relates to

cost of output A
cost of input B
output to input C
demand to output D

Sr.#	Question	Answer
1	The production function relates to	A. cost of output B. cost of input C. output to input D. demand to output
2	The slopes of average and marginal products curves are always zero under:	A. Law of increasing returns B. Law of diminishing returns C. Law of constant returns D. Law of variable propoitions
3	When total product falls, marginal product is.	A. Zero B. Positive C. Negative D. Falling
4	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
5	Marginal product curve intersects average product curve when AP curve is	A. minimum B. maximum C. rising D. falling
6	Economics of scale are of two kinds	A. temporary and permanent B. internal and external C. managerial and industrial D. natural and artificial
7	Which one will determine scale of production .	A. Financial resources B. Production techniques C. Extant of the market D. All the above
8	The law of variable proportions was presented by.	A. Jevens B. Rayon C. Hicks D. Valentine
9	Which of the following saying describes diminishing marginal returns in the short run?	A. When the cat is away, the mouse will play B. Too many cooks spoil the broth C. A rolling stone gathers no moss D. A stitch in time saves nine
10	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

Latest Educational News Stories

Pakistan's Largest Database of Colleges and Universities

BS Programs

University Past Papers

University Results

Exam Results 2024

Study Abroad Programs and Opportunities for Pakistani Students

First Year Economics Chapter 11 Online MCQ Test for 1st Year Economics Chapter 11 (Scale of Production and Laws of Returns)

ICS Part 1 Economics Chapter 11 Test

ICS Part 1 Economics Chapter Wise Test

MCQ's Test For Chapter 11 "Economics Ics Part 1 English Medium Chapter 11 Online Test"

Economics Ics Part 1 English Medium Chapter 11 Online Test

The law of variable proportions was presented by.

Marginal product curve intersects average product curve when AP curve is

When MP curve cuts AP curve, the AP is at its.

When MP is zero, TP is

Law of decreasing returns generates

Economics of scale are of two kinds

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

The government constructed a new water reservoir for the purpose of irrigation; this might be taken as

The concept of internal and external economics was given by.

The law of variable proportions was presented by.

When total product falls, marginal product is.

Which of the following saying describes diminishing marginal returns in the short run?

Internal economies of scale include

Economies of scale

When total product rises marginal product.

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

during short period, diminishing returns may follow because

When average product falls marginal product

When total product (TP) reaches its maximum, Marginal product (MP) is_

The production function relates to

Prepare Complete Set Wise Chapter 11 "Economics Ics Part 1 English Medium Chapter 11 Online Test" MCQs Online With Answers

Set 1

Set 2

Topic Test

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

ICS Part 1 Economics Chapter 11 Important MCQ's

Test Questions

Is this page helpful?

Share your comments & questions here