Smartindia Classroom
CONTENTS
English
Mathematics
Economics
Accountancy
Business Studies
Computer Application
Back to home
Start Practice
Question-1
Product obtained from the additional factor of production is termed as
(A)
Marginal Product
(B)
Total Product
(C)
Average Product
(D)
Annual Product
Question-2
The slope of the total product curve is the
(A)
Average Product
(B)
Slope of a line from the origin to the point
(C)
Marginal Product
(D)
Marginal rate of technical substitution
Question-3
Which of the following costs always decline as output increases?
(A)
Average Cost
(B)
Fixed Cost
(C)
Average fixed Cost
(D)
Average variable Cost
Question-4
Incremental cost is the same concept as ________ cost.
(A)
Average
(B)
Marginal
(C)
Fixed
(D)
Variable
Question-5
If marginal product goes on increasing, it should be understood that law of _________ is applying.
(A)
Increasing Return
(B)
Decreasing Return
(C)
Constant Return
(D)
Diminishing Return
Question-6
Modern economies have propounded the law of
(A)
Increasing Return
(B)
Decreasing Return
(C)
Constant Return
(D)
Variable Proportions
Question-7
The law of diminishing returns assumes that
(A)
All inputs are changed by the same percentage
(B)
There is at least one fixed input
(C)
Additional inputs are added in smaller and smaller increments
(D)
All inputs are held constant
Question-8
The law of diminishing returns refers to diminishing
(A)
Total Returns
(B)
Marginal Returns
(C)
Average Returns
(D)
All the above
Question-9
The above formula is used to calculate
(A)
Total Product
(B)
Average Product
(C)
Marginal Product
(D)
Annual Product
Question-10
According to the law of diminishing returns
(A)
The total product of an input will eventually be negative
(B)
The total product of an input will eventually decline
(C)
The marginal product of an input will eventually be negative
(D)
The marginal product of an input will eventually decline
Your Score 0/10
Click
here
to see your answersheet and detailed track records.
Plus 2 Commerce
Kerala (English Medium)
Practice in Related Chapters
INTRODUCTION TO MICROECONOMICS - THEORY
CONSUMER BEHAVIOUR AND DEMAND
THEORY OF CONSUMER BEHAVIOUR
INTRODUCTION TO MACRO ECONOMICS
Money and Banking
The Theory of Consumer Behaviour (Micro)
Market Equilibrium Under Perfect Competition (Micro)
Elasticity of Demand (Micro)
Theory of Demand (Micro)
Introduction to Micro Economics
Production Function-Returns to a Factor(Micro)
Supply and Elasticity of Supply (Micro)
Cost, Revenue and Producer's Equilibrium(Micro)
Forms of Market (Micro)
The Theory of the firm Under Perfect Competition
Aggreggate Demand and Aggregate Supply
National Income Accounting and Circular flow of Income (Macro)
Powered By
