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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
As factor of production, river and sea are called
Question # 2
One of the following is not included in the characteristics of labour
Question # 3
Organization means an individual or institution which with optimum factor combination
Question # 4
In case of horizontal supply curve, Es is:
Question # 5
Factor of production which is used to earn more income, is called
Question # 6
River, sea, forests, rain are called
Question # 7
Which factor has no pre-determined reward
Question # 8
When price increases, supply:
Question # 9
Blessings like air, rain existing on land are included in factor of production
Question # 10
Which factor is oldest and basic factor of production
Question # 11
Quantity of a commodity which is offered for sale in a market is called:
Question # 12
When supply decreases due to fall in price, it is called:
Question # 13
In economics, every mental or physical struggle undertaken for reward, is called
Question # 14
Cannot be separated from labourer
Question # 15
Causes of shifting in supply curve 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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ICom Part 1 Principles of Economics ( English Medium) Chapter 4 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | If price increases but supply remains constant, it is called: |
A. Fall in supply
B. Contraction in supply
C. Expansion in supply
D. Rise in supply
|
| 2 | Which factor can not be stored |
A. Land
B. Labour
C. Capital
D. Organization
|
| 3 | 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
|
| 4 | 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
|
| 5 | Free gift of nature is |
A. Land
B. Labour
C. Capital
D. Organization
|
| 6 | In case of horizontal supply curve, Es is: |
A. Mero than unity
B. Less than unity
C. Zero
D. Infinite
|
| 7 | Which factor is oldest and basic factor of production |
A. Land
B. Labour
C. Capital
D. Organization
|
| 8 | If quantity supplied changed in response to change in price, is known as: |
A. Ed
B. Es
C. More Elastic
D. Less Elastic
|
| 9 | 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
|
| 10 | In economics, every mental or physical struggle undertaken for reward, is called |
A. Land
B. Labour
C. Capital
D. Organization
|
Test Questions