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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 50% change in supply in response to 50% change in price then:
Question # 2
When supply increases due to rise price, it is called:
Question # 3
If price increases but supply remains constant, it is called:
Question # 4
Second factor of production is
Question # 5
The factor of production which is used to produce more wealth or increase income is called
Question # 6
Which factor is oldest and basic factor of production
Question # 7
River, sea, forests, rain are called
Question # 8
Number of factors of production is
Question # 9
Mental or physical work undertaken for reward by human being is called
Question # 10
Factor of production which is used to earn more income, is called
Question # 11
If an entrepreneur does service, in economics it is called
Question # 12
Supply curve slope is:
Question # 13
The factor which is needed to produce goods by the combination of land, labour and capital is called
Question # 14
Fourth factor of production is called
Question # 15
In case of horizontal supply curve, Es is:
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.
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| Sr.# | Question | Answer |
|---|---|---|
| 1 | Tractor, harvester, thrasher etc are the examples of factor of production |
A. Land
B. Labour
C. Capital
D. Organization
|
| 2 | Cannot be separated from labourer |
A. Land
B. Labour
C. Capital
D. Organization
|
| 3 | Which factor is oldest and basic factor of production |
A. Land
B. Labour
C. Capital
D. Organization
|
| 4 | 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
|
| 5 | Which factor can not be stored |
A. Land
B. Labour
C. Capital
D. Organization
|
| 6 | Free gift of nature is |
A. Land
B. Labour
C. Capital
D. Organization
|
| 7 | In case of horizontal supply curve, Es is: |
A. Mero than unity
B. Less than unity
C. Zero
D. Infinite
|
| 8 | If an entrepreneur does service, in economics it is called |
A. Organization
B. Discipline
C. Labour
D. Wage
|
| 9 | If 30% change in supply in response to 50% change in price then: |
A. Es = 0
B. Es = 1
C. Es > 1
D. Es < 1
|
| 10 | The most important and basic factor of production is |
A. Land
B. Labour
C. Capital
D. Organization
|
| 11 | Perfectly inelastic supply curve is: |
A. Vertical
B. Rise upward
C. Horizontal
D. Fall downward
|
| 12 | Quantity of a commodity which is offered for sale in a market is called: |
A. Trade
B. Supply
C. Demand
D. Stock
|
| 13 | 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
|
| 14 | Third factor of production is called |
A. land
B. labour
C. capital
D. organization
|
| 15 | 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
|
Test Questions
