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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
Which factor has no pre-determined reward
Question # 3
Stock means the quantity:
Question # 4
Supply curve slope is:
Question # 5
One of the following is not included in the characteristics of land
Question # 6
Which factor can not be stored
Question # 7
Mental or physical work undertaken for reward by human being is called
Question # 8
Perfectly inelastic supply curve is:
Question # 9
Production of a commodity depends upon four factors of production i.e. land, labour, capital and organization
Question # 10
If price decreases but supply remains constant, it is called:
Question # 11
One of the following is not included in labour
Question # 12
The most important and basic factor of production is
Question # 13
Causes of shifting in supply curve is:
Question # 14
One of the following is not called land
Question # 15
Blessings like air, rain existing on land are included in factor of production
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 -
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 -
S Samar 14 - Jul - 2021 02 Min 27 Sec 14/15 -
M Muhammad Hammad Shekhani 30 - Jun - 2021 04 Min 23 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
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Blessings like air, rain existing on land are included in factor of production |
A. Labour or human resources
B. Capital or monetary resources
C. Land or natural resources
D. Organisation
|
| 2 | 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
|
| 3 | Number of factors of production is |
A. One
B. Two
C. Three
D. Four
|
| 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 | 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
|
| 6 | If an entrepreneur does service, in economics it is called |
A. Organization
B. Discipline
C. Labour
D. Wage
|
| 7 | The most important and basic factor of production is |
A. Land
B. Labour
C. Capital
D. Organization
|
| 8 | When supply increases due to rise price, it is called: |
A. Fall in supply
B. Contraction in supply
C. Expansion in supply
D. Rise in supply
|
| 9 | Supply curve slope is: |
A. Positive
B. Vertical
C. Negative
D. Horizontal
|
| 10 | Factor of production which is used to earn more income, is called |
A. Land
B. Labour
C. Capital
D. Organization
|
Test Questions
