11th Class ICom Part 1 Principles of Economics Chapter Wise Online MCQ Test With Answers PDF English Medium

Principles of Economics Icom Part 1 English Medium Online Test

Sr. #	Questions	Answers Choice
1	At least one factor is fixed in:	Market period Long period Short period All of three
2	Law of diminishing return is more applicable in:	Trade sector Industrial sector Agricultural sector Education sector
3	Which law is applicable when human and natural forces are balance ?	Increasing cost Constant cost Diminishing cost Both (a) and (c)
4	Law of increasing return is more applicable in:	Trade sector Industrial sector Agricultural sector Power sector
5	Law of decreasing return is also known as:	Increasing cost Constant cost Diminishing cost Both (a) and (c)
6	Law of constant return is also known as:	Increasing cost Constant cost Diminishing cost Both (a) and (c)
7	Law of increasing return is also known as:	Increasing cost Constant cost Diminishing cost Both (a) and (c)
8	When average product is maximum, marginal product is:	Positive Equal to AP Zero Negative
9	Laws of returns are also known as:	Laws of substitution Laws of consumption Laws of cost All of three
10	When average product increases, marginal product is:	Also increases Decreases Zero Negative
11	When total production decreases, marginal product is:	Positive Negative Zero Infinite
12	When total production is maximum, marginal product is:	Positive Negative Zero Infinite
13	When total production increases, marginal product is:	Positive Negative Zero Infinite
14	According to neo classical approach, output is the function of:	Labour Capital Organization Both (a) and (b)
15	The factor of production which is result of human struggle.	Land Labour Capital Organization

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