| 1 |
Commercial economics are a pat of: |
- A. Internal economics
- B. External economics
- C. Economies of scale
- D. None of the three
|
| 2 |
Which one is the small scale production. |
- A. Bata shoe factory
- B. A barber shop
- C. kohinoor Textile Industries
- D. Sufi soap
|
| 3 |
Economics of scale are of two kinds |
- A. temporary and permanent
- B. internal and external
- C. managerial and industrial
- D. natural and artificial
|
| 4 |
Law of diminishing returns is a universal law as: |
- A. It does apply in all aspects of an economy.
- B. Basically it applies in agriculture.
- C. It is hard to check it.
- D. It applies in industry as well
|
| 5 |
When average product falls marginal product |
- A. Rises
- B. Also falls
- C. Remain equal to average product
- D. Does not change
|
| 6 |
The government constructed a new water reservoir for the purpose of irrigation; this might be taken as |
- A. increase in supply of capital
- B. increase in supply of land
- C. increase in supply of land and supply of capital
- D. none of these
|
| 7 |
When average product (AP) and marginal product (MP) are rising. |
- A. AP > MP
- B. AP = MP
- C. AP < MP
- D. AP = MP = 0
|
| 8 |
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
|
| 9 |
Law of diminishing returns applies more in: |
- A. Industry
- B. Agriculture
- C. Mining
- D. Construction
|
| 10 |
When business expands beyond its optimum level what type of economics will it be getting. |
- A. Diseconomies
- B. Internal economies
- C. External economies
- D. Maanagerial economics
|
