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 If the rate of change in price and quantity supplied is equal then:
  • A. Es = 0
  • B. Es = 1
  • C. Es > 1
  • D. Es < 1
2 The most important and basic factor of production is
  • A. Land
  • B. Labour
  • C. Capital
  • D. Organization
3 In case of horizontal supply curve, Es is:
  • A. Mero than unity
  • B. Less than unity
  • C. Zero
  • D. Infinite
4 Which factor is oldest and basic factor of production
  • A. Land
  • B. Labour
  • C. Capital
  • D. Organization
5 In modern term, factors of production are called
  • A. Inputs
  • B. Productive services
  • C. Inputs and productive services
  • D. Production of goods and services
6 Stock means the quantity:
  • A. Sold in market
  • B. Which is offered for sale
  • C. Which exist in warehouse
  • D. Of total production
7 Tractor, harvester, thrasher etc are the examples of factor of production
  • A. Land
  • B. Labour
  • C. Capital
  • D. Organization
8 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
9 Free gift of nature is
  • A. Land
  • B. Labour
  • C. Capital
  • D. Organization
10 One of the following is not called land
  • A. Rain
  • B. Mountain
  • C. Forests
  • D. Mangla Dam

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

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