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This online test contains MCQs about following topics:
. Land . Characteristics of land . Importance of land . labour . Importance of labour . Characteristics of labour . Capital . Importance of capital . Functions of capital . Organization
ICOM Part 1 Economics Ch 4 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 4 "Principles of Economics Icom Part 1 English Medium Chapter 4 Online Test"
Try The MCQ's Test For Chapter 4 "Principles of Economics Icom Part 1 English Medium Chapter 4 Online Test"
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Total Questions15
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Time Allowed20
Principles of Economics Icom Part 1 English Medium Chapter 4 Online Test
00:00
Question # 1
Blessings like air, rain existing on land are included in factor of production
Question # 2
If price increases but supply remains constant, it is called:
Question # 3
Cannot be separated from labourer
Question # 4
If 30% change in supply in response to 50% change in price then:
Question # 5
Organization means an individual or institution which with optimum factor combination
Question # 6
The factor which is needed to produce goods by the combination of land, labour and capital is called
Question # 7
Tractor, harvester, thrasher etc are the examples of factor of production
Question # 8
As factor of production, river and sea are called
Question # 9
If the rate of change in price and quantity supplied is equal then:
Question # 10
Quantity of a commodity which is offered for sale in a market is called:
Question # 11
In modern term, factors of production are called
Question # 12
All the factors of production can be hired except
Question # 13
In case of horizontal supply curve, Es is:
Question # 14
Fourth factor of production is called
Question # 15
If an entrepreneur does service, in economics it is called
11th Principle of Economics Chapter 4 Test
Here you can prepare 11th Principle of Economics English Medium Chapter 4 Factors of Production Test. Click the button for 100% free full practice test.
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| Sr.# | Question | Answer |
|---|---|---|
| 1 | Which factor has no pre-determined reward |
A. Land
B. Labour
C. Capital
D. Organization
|
| 2 | Second factor of production is |
A. Land
B. Labour
C. Capital
D. Organization
|
| 3 | Production of a commodity depends upon four factors of production i.e. land, labour, capital and organization |
A. According to classical economists
B. According to Neo classical economists
C. According to modern economists
D. According to Austrian school of thought
|
| 4 | River, sea, forests, rain are called |
A. Land
B. Labour
C. Capital
D. Organization
|
| 5 | One of the following is not included in the characteristics of land |
A. Land is a gift of nature
B. All the pieces of land are not equal infertility
C. Productive capacity of land is limited
D. Supply of land is unlimited
|
| 6 | As factor of production, river and sea are called |
A. Land
B. Labour
C. Capital
D. Organization
|
| 7 | The relationship between price and quantity supplied is: |
A. Inverse
B. Positive
C. Infinite
D. Zero
|
| 8 | Cannot be separated from labourer |
A. Land
B. Labour
C. Capital
D. Organization
|
| 9 | One of the following is not included in labour |
A. Teaching of a teacher in a school
B. Working of a clerk in an office
C. To follow a case by a lawyer
D. To look after the child by his mother
|
| 10 | In modern term, factors of production are called |
A. Inputs
B. Productive services
C. Inputs and productive services
D. Production of goods and services
|
| 11 | Immortal factor production is |
A. Land
B. Labour
C. Capital
D. Organization
|
| 12 | The factor of production which is used to produce more wealth or increase income is called |
A. Land
B. Labour
C. Capital
D. Organization
|
| 13 | If price increases but supply remains constant, it is called: |
A. Fall in supply
B. Contraction in supply
C. Expansion in supply
D. Rise in supply
|
| 14 | Free gift of nature is |
A. Land
B. Labour
C. Capital
D. Organization
|
| 15 | When price decreases, supply: |
A. Contracts
B. Expands
C. Remains fixed
D. Becomes zero
|
Test Questions
