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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
The most important and basic factor of production is
Question # 2
Fourth factor of production is called
Question # 3
If price increases but supply remains constant, it is called:
Question # 4
Quantity of a commodity which is offered for sale in a market is called:
Question # 5
Factor of production which is used to earn more income, is called
Question # 6
When price decreases, supply:
Question # 7
Which factor has no pre-determined reward
Question # 8
If an entrepreneur does service, in economics it is called
Question # 9
Organization means an individual or institution which with optimum factor combination
Question # 10
In modern term, factors of production are called
Question # 11
If 30% change in supply in response to 50% change in price then:
Question # 12
If 50% change in supply in response to 50% change in price then:
Question # 13
All the factors of production can be hired except
Question # 14
If price decreases but supply remains constant, it is called:
Question # 15
Which factor can not be stored
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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M Minahil Asif 04 - Jun - 2024 01 Min 00 Sec 15/15 -
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 -
M Medicine 09 - Dec - 2023 02 Min 48 Sec 15/15 -
A Arzoo Qaiser 30 - Jan - 2026 01 Min 35 Sec 14/15 -
F fatima raja 26 - Nov - 2023 01 Min 41 Sec 14/15 -
H Huzaira Azam 13 - Nov - 2023 02 Min 17 Sec 14/15 -
F Farnaz Azam 11 - Nov - 2023 02 Min 26 Sec 14/15 -
I Ibrahim Atif 15 - Dec - 2023 01 Min 46 Sec 13/15 -
M Mavis Hayaat 24 - Mar - 2024 02 Min 18 Sec 13/15 -
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 -
M Mohammad Hassan Javed 18 - Jun - 2022 00 Min 48 Sec 12/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 4 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | 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
|
| 3 | Supply curve slope is: |
A. Positive
B. Vertical
C. Negative
D. Horizontal
|
| 4 | 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
|
| 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 | In economics, every mental or physical struggle undertaken for reward, is called |
A. Land
B. Labour
C. Capital
D. Organization
|
| 7 | All the factors of production can be hired except |
A. Land
B. Labour
C. Capital
D. Organization
|
| 8 | 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
|
| 9 | Tractor, harvester, thrasher etc are the examples of factor of production |
A. Land
B. Labour
C. Capital
D. Organization
|
| 10 | Stock means the quantity: |
A. Sold in market
B. Which is offered for sale
C. Which exist in warehouse
D. Of total production
|
Test Questions
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