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Online Tests
Economics Ics Part 1 English Medium Chapter 11 Online Test MCQs With Answers
Question # 1
Which one will determine scale of production .
Choose an answer
Financial resources
Production techniques
Extant of the market
All the above
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Question # 2
When average product falls marginal product
Choose an answer
Rises
Also falls
Remain equal to average product
Does not change
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Question # 3
When business expands beyond its optimum level what type of economics will it be getting.
Choose an answer
Diseconomies
Internal economies
External economies
Maanagerial economics
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Question # 4
Which of the following is example of external economies of scale?
Choose an answer
Discount on purchases of raw materials
Technical progress leads to development of machines at low price
Hiring of specialized staff due to increase in scale of production
A firm starts producing by products
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Question # 5
Which one is the small scale production.
Choose an answer
Bata shoe factory
A barber shop
kohinoor Textile Industries
Sufi soap
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Question # 6
The law of variable proportions was presented by.
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David Ricords
Alfred Marshall
W.J.L. Ryan
Pareto
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Question # 7
The concept of internal and external economics was given by.
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Adam Smith
Robbins
J.M.Keynes
Alfred Marshall
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Question # 8
When MP is zero, TP is
Choose an answer
minimum
maximum
rising
falling
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Question # 9
When MP curve cuts AP curve, the AP is at its.
Choose an answer
Lowest point
Highest point
Neither of the two
Eighter of the two
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Question # 10
The slopes of average and marginal products curves are always zero under:
Choose an answer
Law of increasing returns
Law of diminishing returns
Law of constant returns
Law of variable propoitions
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Question # 11
An important factor which promotes large scale production is:
Choose an answer
Extant of market
Revolutionary changes in social life
Culture and civilization
All the three
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Question # 12
When total product rises marginal product.
Choose an answer
Remains the same
Falls
Also rises
None of the three
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Question # 13
Internal economies of scale include
Choose an answer
risk-bearing economics
trade mark
managerial economies
a and c of above
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Question # 14
Which one is the third stage of production under law of variable proportions
Choose an answer
Decreasing average returns
Increasing average return
Negative marginal return
Increasing marginal return
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Question # 15
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
Choose an answer
MP of labour is grater than AP of labour
additional workers are more efficient
MP and AP are equal
AP is maximum
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Question # 16
When total product (TP) reaches its maximum, Marginal product (MP) is_
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Zero
Positive
Negative
Rising
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Question # 17
In production of goods, negative returns in the short run imply that
Choose an answer
average product is negative
total product is negative
marginal product is negative
marginal cost is falling
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Question # 18
When total product falls, marginal product is.
Choose an answer
Zero
Positive
Negative
Falling
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Question # 19
When average product (AP) and marginal product (MP) are rising.
Choose an answer
AP > MP
AP = MP
AP < MP
AP = MP = 0
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Question # 20
In the second stage of the law of variable of proportions the average product:
Choose an answer
Rises
Remains constant
Falls
None of the three
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Question # 21
The production function relates to
Choose an answer
cost of output
cost of input
output to input
demand to output
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