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 Which factor is oldest and basic factor of production
  • A. Land
  • B. Labour
  • C. Capital
  • D. Organization
2 In modern term, factors of production are called
  • A. Inputs
  • B. Productive services
  • C. Inputs and productive services
  • D. Production of goods and services
3 Mental or physical work undertaken for reward by human being is called
  • A. Land
  • B. Labour
  • C. Capital
  • D. Organization
4 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
5 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
6 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
7 Tractor, harvester, thrasher etc are the examples of factor of production
  • A. Land
  • B. Labour
  • C. Capital
  • D. Organization
8 Factor of production which is used to earn more income, is called
  • A. Land
  • B. Labour
  • C. Capital
  • D. Organization
9 The most important and basic factor of production is
  • 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

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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