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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
Mental or physical work undertaken for reward by human being is called
Question # 2
Which factor is oldest and basic factor of production
Question # 3
The relationship between price and quantity supplied is:
Question # 4
Second factor of production is
Question # 5
Stock means the quantity:
Question # 6
When price increases, supply:
Question # 7
Cannot be separated from labourer
Question # 8
In economics, every mental or physical struggle undertaken for reward, is called
Question # 9
When supply decreases due to fall in price, it is called:
Question # 10
Which factor has no pre-determined reward
Question # 11
River, sea, forests, rain are called
Question # 12
One of the following is not included in the characteristics of labour
Question # 13
One of the following is not included in labour
Question # 14
If 30% change in supply in response to 50% change in price then:
Question # 15
Number of factors of production 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.
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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I Ibrahim Atif 15 - Dec - 2023 01 Min 46 Sec 13/15 -
M Mavis Hayaat 24 - Mar - 2024 02 Min 18 Sec 13/15 -
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O Oneeza 26 - Aug - 2021 10 Min 50 Sec 13/15 -
M Mohammad Hassan Javed 18 - Jun - 2022 00 Min 48 Sec 12/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 4 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Tractor, harvester, thrasher etc are the examples of factor of production |
A. Land
B. Labour
C. Capital
D. Organization
|
| 2 | All the factors of production can be hired except |
A. Land
B. Labour
C. Capital
D. Organization
|
| 3 | 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
|
| 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 | Quantity of a commodity which is offered for sale in a market is called: |
A. Trade
B. Supply
C. Demand
D. Stock
|
| 6 | Which factor has no pre-determined reward |
A. Land
B. Labour
C. Capital
D. Organization
|
| 7 | 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
|
| 8 | Fourth factor of production is called |
A. Land
B. Labour
C. Capital
D. Organization
|
| 9 | 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
|
| 10 | Immortal factor production is |
A. Land
B. Labour
C. Capital
D. Organization
|
Test Questions
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