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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
If quantity supplied changed in response to change in price, is known as:
Question # 2
In modern term, factors of production are called
Question # 3
The factor which is needed to produce goods by the combination of land, labour and capital is called
Question # 4
Quantity of a commodity which is offered for sale in a market is called:
Question # 5
When supply increases due to rise price, it is called:
Question # 6
Which factor has no pre-determined reward
Question # 7
One of the following is not included in labour
Question # 8
Free gift of nature is
Question # 9
In economics, every mental or physical struggle undertaken for reward, is called
Question # 10
In case of horizontal supply curve, Es is:
Question # 11
One of the following is not included in the characteristics of land
Question # 12
When price decreases, supply:
Question # 13
Causes of shifting in supply curve is:
Question # 14
Factor of production which is used to earn more income, 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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Z Zayn 24 - Jul - 2021 01 Min 13 Sec 15/15 -
S Subtain Ahmed Raza 21 - Jul - 2023 01 Min 18 Sec 15/15 -
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M Medicine 09 - Dec - 2023 02 Min 48 Sec 15/15 -
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S Samar 14 - Jul - 2021 02 Min 27 Sec 14/15 -
I Ibrahim Atif 15 - Dec - 2023 01 Min 46 Sec 13/15 -
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U umer 06 - Aug - 2024 03 Min 39 Sec 13/15 -
O Oneeza 26 - Aug - 2021 10 Min 50 Sec 13/15
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 50% change in supply in response to 50% change in price then: |
A. Es = 0
B. Es = 1
C. Es > 1
D. Es < 1
|
| 3 | In economics, every mental or physical struggle undertaken for reward, is called |
A. Land
B. Labour
C. Capital
D. Organization
|
| 4 | The factor of production which is used to produce more wealth or increase income is called |
A. Land
B. Labour
C. Capital
D. Organization
|
| 5 | Second factor of production is |
A. Land
B. Labour
C. Capital
D. Organization
|
| 6 | 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
|
| 7 | 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
|
| 8 | When price increases, supply: |
A. Contracts
B. Expands
C. Remains fixed
D. Becomes zero
|
| 9 | Perfectly inelastic supply curve is: |
A. Vertical
B. Rise upward
C. Horizontal
D. Fall downward
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| 10 | Which factor can not be stored |
A. Land
B. Labour
C. Capital
D. Organization
|
Test Questions