Laws of Variable Proportion - SS2 Economics Past Questions and Answers - page 1
1
What is the law of variable proportions?
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A
As inputs increase, the output always increases proportionally
B
As inputs increase, output increases at a decreasing rate
C
As inputs increase, output decreases at an increasing rate
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D
As inputs increase, output remains constant
2
What is another name for the law of variable proportions?
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A
The law of constant returns
B
The law of increasing costs
C
The law of diminishing returns
D
The law of supply and demand
3
Which of the following is an example of the law of variable proportions?
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A
Eating more food will make you feel more full
B
Adding more workers to a production line will always increase output
C
Adding more fertilizer to a field will always increase crop yields
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D
Adding more water to a plant will always make it grow taller
4
What is the importance of the law of variable proportions in economics?
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A
It helps us understand how changes in inputs affect output
B
It helps us understand how changes in output affect inputs
C
It helps us understand how changes in inputs affect prices
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D
It helps us understand how changes in prices affect inputs
5
At what point does the law of variable proportions come into effect?
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A
When input levels are low
B
When input levels are high
C
When input levels are constant
D
When input levels are variable
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6
Give an example of how the law of variable proportions applies in the real world.
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7
Given the law of variable proportion, how can firms optimize their production processes?
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