| 1 |
The number of laws of cost are |
- A. One
- B. Two
- C. Three
- D. Four
|
| 2 |
According to classical economics, production process is under laws |
- A. Two
- B. Three
- C. Four
- D. Five
|
| 3 |
The sector of production, in which nature and human beings play an equal role, there is applicable |
- A. Law of decreasing return
- B. Law of decreasing cost
- C. Law of increasing return
- D. Law of constant return
|
| 4 |
When average product decreases, marginal product |
- A. Increases
- B. Is zero
- C. Is equal to average product
- D. Is less than average product
|
| 5 |
In production process when marginal product increases with the increase in units of variable factors along with fixed factor, this tendency in economics is called |
- A. Law of production
- B. Law of increasing return
- C. Law of decreasing return
- D. Law of constant return
|
| 6 |
Change in total production is called |
- A. Marginal production
- B. Zero production
- C. Total production
- D. Average production
|
| 7 |
The second name of law of decreasing return is |
- A. Law of increasing cost
- B. Law of constant cost
- C. Law of decreasing cost
- D. Law of cost
|
| 8 |
When total product decreases, marginal product |
- A. Is positive
- B. Is negative
- C. Is zero
- D. Is increasing
|
| 9 |
When demand and supply rise in equal propoertion, the equilibrium price will: |
- A. Fall
- B. Rise
- C. Constant
- D. None of those
|
| 10 |
The sector of production, in which nature plays more role, there is applicable |
- A. Law of increasing return
- B. Law of constant return
- C. Law of decreasing return
- D. Law of decreasing cost
|
