ICOM Part 1 Principles of Economics English Medium Chapter 4 MCQ's Test

11th Class Principles of Economics English Medium Online MCQ Test for Chapter 4 (Factors of Production)

ICOM Part 1 Principles of Economics English Medium Chapter 4 MCQ's Test

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ICOM Part 1 Principles of Economics Chapter Wise Test (English Medium)

11th Class Principles of Economics English Medium Online MCQ Test for Chapter 4 (Factors of Production)

Sr. # Questions Answers Choice
1 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
2 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
3 Stock means the quantity:
  • A. Sold in market
  • B. Which is offered for sale
  • C. Which exist in warehouse
  • D. Of total production
4 As factor of production, river and sea are called
  • A. Land
  • B. Labour
  • C. Capital
  • D. Organization
5 Free gift of nature is
  • A. Land
  • B. Labour
  • C. Capital
  • D. Organization
6 River, sea, forests, rain are called
  • A. Land
  • B. Labour
  • C. Capital
  • D. Organization
7 The factor of production which is used to produce more wealth or increase income is called
  • A. Land
  • B. Labour
  • C. Capital
  • D. Organization
8 The relationship between price and quantity supplied is:
  • A. Inverse
  • B. Positive
  • C. Infinite
  • D. Zero
9 Immortal factor production is
  • A. Land
  • B. Labour
  • C. Capital
  • D. Organization
10 Fourth factor of production is called
  • A. Land
  • B. Labour
  • C. Capital
  • D. Organization

Top Scorers of Principles of Economics Icom Part 1 English Medium Chapter 4 Online Test

A

Abdullah Amir

Lahore16 - May - 2025

10/15
06 Mins 11 Sec
W

Wahab Yaqoob

Lahore22 - Mar - 2025

9/15
03 Mins 26 Sec

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