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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
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Question # 1
Production of a commodity depends upon four factors of production i.e. land, labour, capital and organization
Question # 2
If 50% change in supply in response to 50% change in price then:
Question # 3
Quantity of a commodity which is offered for sale in a market is called:
Question # 4
The factor which is needed to produce goods by the combination of land, labour and capital is called
Question # 5
If an entrepreneur does service, in economics it is called
Question # 6
When price decreases, supply:
Question # 7
Which factor has no pre-determined reward
Question # 8
Number of factors of production is
Question # 9
Immortal factor production is
Question # 10
Which factor is oldest and basic factor of production
Question # 11
When price increases, supply:
Question # 12
One of the following is not called land
Question # 13
Perfectly inelastic supply curve is:
Question # 14
If the rate of change in price and quantity supplied is equal then:
Question # 15
If price decreases but supply remains constant, it is called:
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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O Oneeza 26 - Aug - 2021 10 Min 50 Sec 13/15
| Sr. # | Question | Answer |
|---|---|---|
| 1 | Quantity of a commodity which is offered for sale in a market is called: |
A. Trade B. Supply C.Demand D. Stock |
| 2 | Supply curve slope is: |
A. Positive B. Vertical C.Negative D. Horizontal |
| 3 | Factor of production which is used to earn more income, is called |
A. Land B. Labour C.Capital D. Organization |
| 4 | Fourth factor of production is called |
A. Land B. Labour C.Capital D. Organization |
| 5 | 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 |
| 6 | If price decreases but supply remains constant, it is called: |
A. Fall in supply B. Contraction in supply C.Expansion in supply D. Rise in supply |
| 7 | All the factors of production can be hired except |
A. Land B. Labour C.Capital D. Organization |
| 8 | Which factor can not be stored |
A. Land B. Labour C.Capital D. Organization |
| 9 | Second factor of production is |
A. Land B. Labour C.Capital D. Organization |
| 10 | In case of horizontal supply curve, Es is: |
A. Mero than unity B. Less than unity C.Zero D. Infinite |
| 11 | 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 |
| 12 | Mental or physical work undertaken for reward by human being is called |
A. Land B. Labour C.Capital D. Organization |
| 13 | Which factor is oldest and basic factor of production |
A. Land B. Labour C.Capital D. Organization |
| 14 | If an entrepreneur does service, in economics it is called |
A. Organization B. Discipline C.Labour D. Wage |
| 15 | 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 |
Test Questions
