MCQs, Micro Economics in English, Laws of Returns

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Micro Economics    

Laws of Returns

Law of increasing return generally applies.

On agriculture	On industry
On trade	All

 Law of decreasing return is generally applicable to.

Agriculture	Industry
On trade	All

 Law of increasing return is also known as.

Law of decreasing cost	Law of increasing cost
Both	None

 Law of decreasing return is also known as.

Law of decreasing cost	Law of increasing cost
Both	None

 Law of constant return is also known as.

Law of decreasing cost	Law of increasing cost
Law of constant cost	None

 The laws of returns are the reverse form of

Laws of costs	Law of demand
Law of supply	Law of utility

 What scale of product does a company usually provide?

large scale	Small scale
None	All

What kind of production does the chemical fertilizer industry offer?

large scale	Small scale
None	All

 What kind of production does the domestic industry usually provide?

large scale	Small scale
None	All

 What is the scale of production of garment industry in Pakistan?

large scale	Small scale
None	All

 Laws of returns are the collection of

Two laws	Three laws
Four laws	Five laws

In the law of increasing return, the marginal production

decreases	increases
Both	None

 In the law of decreasing return, the marginal production

decreases	increases
Both	None

 In the law of constant return, the marginal production

decreases	increases
Remains the same	All

 In the law of increasing return, the total production

decreases	increases
Both	None

 In the law of decreasing return, the total production

decreases	increases
Both	None

 In the law of constant return, the total production

decreases	increases
Remains the same	All

 In large scale is production, the firm produces its products at

Large scale	Small scale
Both	None

 In small scale is production, the firm produces its products at

Large scale	Small scale
Both	None

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