Economics MCQS with Answers 1st Year Chapter 11

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Economics MCQS with Answers 1st Year


The government constructed a new water reservoir for the purpose of irrigation; this might be taken as
increase in supply of land
increase in supply of capital
increase in supply of land and supply of capital
none of these

When MP curve cuts AP curve, the AP is at its.
Eighter of the two
Lowest point
Highest point
Neither of the two

Which one will determine scale of production .
Extant of the market
All the above
Financial resources
Production techniques

The concept of internal and external economics was given by.
J.M.Keynes
Robbins
Alfred Marshall
Adam Smith

An important factor which promotes large scale production is:
Culture and civilization
All the three
Extant of market
Revolutionary changes in social life

Marginal product indicates rate of change of
variable product
average product
total product
all of the above

If in a production process, all inputs are increased by 10% and output increase by less than 10%, then it is called
diminishing marginal returns
negative economies
economies of scale
diseconomies of scale

Law of decreasing returns generates
law of increasing costs
law of economic growth
law of decreasing costs
law of variable costs

Internal economies of scale include
a and c of above
managerial economies
trade mark
risk-bearing economics

The slopes of average and marginal products curves are always zero under:
Law of diminishing returns
Law of variable propoitions
Law of increasing returns
Law of constant returns

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