| 1 |
In law of diminishing returns at least one factor |
- A. must be constant
- B. must be owned by the firm
- C. must be purchasable
- D. must be efficient
|
| 2 |
The concept of internal and external economics was given by. |
- A. Adam Smith
- B. Robbins
- C. J.M.Keynes
- D. Alfred Marshall
|
| 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 |
When total product (TP) reaches its maximum, Marginal product (MP) is_ |
- A. Zero
- B. Positive
- C. Negative
- D. Rising
|
| 5 |
Internal economies of scale include |
- A. risk-bearing economics
- B. trade mark
- C. managerial economies
- D. a and c of above
|
| 6 |
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
|
| 7 |
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
|
| 8 |
Law of decreasing returns generates |
- A. law of economic growth
- B. law of increasing costs
- C. law of variable costs
- D. law of decreasing costs
|
| 9 |
Marginal product indicates rate of change of |
- A. total product
- B. average product
- C. variable product
- D. all of the above
|
| 10 |
Which one is the small scale production. |
- A. Bata shoe factory
- B. A barber shop
- C. kohinoor Textile Industries
- D. Sufi soap
|
