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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
Second factor of production is
Question # 2
The relationship between price and quantity supplied is:
Question # 3
The factor which is needed to produce goods by the combination of land, labour and capital is called
Question # 4
Production of a commodity depends upon four factors of production i.e. land, labour, capital and organization
Question # 5
The factor of production which is used to produce more wealth or increase income is called
Question # 6
Causes of shifting in supply curve is:
Question # 7
All the factors of production can be hired except
Question # 8
Which factor is oldest and basic factor of production
Question # 9
When supply decreases due to fall in price, it is called:
Question # 10
When price increases, supply:
Question # 11
In modern term, factors of production are called
Question # 12
When supply increases due to rise price, it is called:
Question # 13
In economics, every mental or physical struggle undertaken for reward, is called
Question # 14
In case of horizontal supply curve, Es is:
Question # 15
One of the following is not included in the characteristics of land
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.
Top Scorers Of Chapter 4 "Principles of Economics Icom Part 1 English Medium Chapter 4 Online Test" MCQ`s Test
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Z Zayn 24 - Jul - 2021 01 Min 13 Sec 15/15 -
S Subtain Ahmed Raza 21 - Jul - 2023 01 Min 18 Sec 15/15 -
A Abeer 08 - Feb - 2024 01 Min 40 Sec 15/15 -
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M Muhammad Hammad Shekhani 30 - Jun - 2021 04 Min 23 Sec 14/15 -
I Ibrahim Atif 15 - Dec - 2023 01 Min 46 Sec 13/15 -
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Z Zeeshan 07 - Nov - 2021 03 Min 02 Sec 13/15 -
U umer 06 - Aug - 2024 03 Min 39 Sec 13/15 -
O Oneeza 26 - Aug - 2021 10 Min 50 Sec 13/15
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Blessings like air, rain existing on land are included in factor of production |
A. Labour or human resources
B. Capital or monetary resources
C. Land or natural resources
D. Organisation
|
| 2 | Fourth factor of production is called |
A. Land
B. Labour
C. Capital
D. Organization
|
| 3 | One of the following is not included in the characteristics of labour |
A. Labour and labourer cannot be separated
B. Labour can be stored
C. Labour has limited mobility
D. Supply of labour is inelastic
|
| 4 | The most important and basic factor of production is |
A. Land
B. Labour
C. Capital
D. Organization
|
| 5 | Which factor can not be stored |
A. Land
B. Labour
C. Capital
D. Organization
|
| 6 | 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
|
| 7 | When supply decreases due to fall in price, it is called: |
A. Fall in supply
B. Contraction in supply
C. Expansion in supply
D. Rise in supply
|
| 8 | If 50% change in supply in response to 50% change in price then: |
A. Es = 0
B. Es = 1
C. Es > 1
D. Es < 1
|
| 9 | Second factor of production is |
A. Land
B. Labour
C. Capital
D. Organization
|
| 10 | Immortal factor production is |
A. Land
B. Labour
C. Capital
D. Organization
|
Test Questions
