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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
Which factor can not be stored
Question # 2
All the factors of production can be hired except
Question # 3
Causes of shifting in supply curve is:
Question # 4
Fourth factor of production is called
Question # 5
River, sea, forests, rain are called
Question # 6
When price decreases, supply:
Question # 7
Organization means an individual or institution which with optimum factor combination
Question # 8
Which factor is oldest and basic factor of production
Question # 9
As factor of production, river and sea are called
Question # 10
One of the following is not called land
Question # 11
The factor which is needed to produce goods by the combination of land, labour and capital is called
Question # 12
Tractor, harvester, thrasher etc are the examples of factor of production
Question # 13
If 50% change in supply in response to 50% change in price then:
Question # 14
Supply curve slope is:
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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O Oneeza 26 - Aug - 2021 10 Min 50 Sec 13/15
| Sr. # | Question | Answer |
|---|---|---|
| 1 | Third factor of production is called |
A. land B. labour C.capital D. organization |
| 2 | As factor of production, river and sea are called |
A. Land B. Labour C.Capital D. Organization |
| 3 | In modern term, factors of production are called |
A. Inputs B. Productive services C.Inputs and productive services D. Production of goods and services |
| 4 | When price increases, supply: |
A. Contracts B. Expands C.Remains fixed D. Becomes zero |
| 5 | Which factor is oldest and basic factor of production |
A. Land B. Labour C.Capital D. Organization |
| 6 | Organization means an individual or institution which with optimum factor combination |
A. Lays foundation of business always earning profit B. Lays foundation of business but does not accept the responsibility of profit and loss C.Lays foundation of business but accepts the responsibility of profit and loss D. Serves as a manger in the business and receives remuneration |
| 7 | Free gift of nature is |
A. Land B. Labour C.Capital D. Organization |
| 8 | Fourth factor of production is called |
A. Land B. Labour C.Capital D. Organization |
| 9 | The factor which is needed to produce goods by the combination of land, labour and capital is called |
A. Land B. Labour C.Capital D. Organization |
| 10 | The relationship between price and quantity supplied is: |
A. Inverse B. Positive C.Infinite D. Zero |
| 11 | 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 |
| 12 | Supply curve slope is: |
A. Positive B. Vertical C.Negative D. Horizontal |
| 13 | In economics, every mental or physical struggle undertaken for reward, is called |
A. Land B. Labour C.Capital D. Organization |
| 14 | Which factor can not be stored |
A. Land B. Labour C.Capital D. Organization |
| 15 | River, sea, forests, rain are called |
A. Land B. Labour C.Capital D. Organization |
Test Questions