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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
One of the following is not called land
Question # 2
Causes of shifting in supply curve is:
Question # 3
If the rate of change in price and quantity supplied is equal then:
Question # 4
If an entrepreneur does service, in economics it is called
Question # 5
Organization means an individual or institution which with optimum factor combination
Question # 6
One of the following is not included in the characteristics of land
Question # 7
If price decreases but supply remains constant, it is called:
Question # 8
Cannot be separated from labourer
Question # 9
When supply decreases due to fall in price, it is called:
Question # 10
All the factors of production can be hired except
Question # 11
Third factor of production is called
Question # 12
The factor which is needed to produce goods by the combination of land, labour and capital is called
Question # 13
One of the following is not included in the characteristics of labour
Question # 14
Immortal factor production is
Question # 15
Which factor is oldest and basic 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.
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S Subtain Ahmed Raza 21 - Jul - 2023 01 Min 18 Sec 15/15 -
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O Oneeza 26 - Aug - 2021 10 Min 50 Sec 13/15
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Which factor is oldest and basic factor of production |
A. Land
B. Labour
C. Capital
D. Organization
|
| 2 | When price decreases, supply: |
A. Contracts
B. Expands
C. Remains fixed
D. Becomes zero
|
| 3 | In economics, every mental or physical struggle undertaken for reward, is called |
A. Land
B. Labour
C. Capital
D. Organization
|
| 4 | Supply curve slope is: |
A. Positive
B. Vertical
C. Negative
D. Horizontal
|
| 5 | The most important and basic factor of production is |
A. Land
B. Labour
C. Capital
D. Organization
|
| 6 | One of the following is not called land |
A. Rain
B. Mountain
C. Forests
D. Mangla Dam
|
| 7 | The factor of production which is used to produce more wealth or increase income is called |
A. Land
B. Labour
C. Capital
D. Organization
|
| 8 | When price increases, supply: |
A. Contracts
B. Expands
C. Remains fixed
D. Becomes zero
|
| 9 | Production of a commodity depends upon four factors of production i.e. land, labour, capital and organization |
A. According to classical economists
B. According to Neo classical economists
C. According to modern economists
D. According to Austrian school of thought
|
| 10 | In modern term, factors of production are called |
A. Inputs
B. Productive services
C. Inputs and productive services
D. Production of goods and services
|
| 11 | If an entrepreneur does service, in economics it is called |
A. Organization
B. Discipline
C. Labour
D. Wage
|
| 12 | Mental or physical work undertaken for reward by human being is called |
A. Land
B. Labour
C. Capital
D. Organization
|
| 13 | 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
|
| 14 | Fourth factor of production is called |
A. Land
B. Labour
C. Capital
D. Organization
|
| 15 | As factor of production, river and sea are called |
A. Land
B. Labour
C. Capital
D. Organization
|
Test Questions
