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17th Chapter

ICS Part 1 Economics Chapter 17 MCQs Test

First Year Economics Chapter 17 Online MCQ Test for 1st Year Economics Chapter 17 (Rent, Interest, Profit)

This online test contains MCQs about following topics:

Economic rent, .Gross Vs Net rent, .Ricardo's theory, .Marginal land, .Differnetial rent scarcity rent, .Modern theory of rent, .Rent and price, .Quasi rent, .Rent as unearned income, .Gorss Vs net interest, .Theories of interest, .Liquidity prefernece theory, .Loanable funds theory, .Zero rate of interest, . Gross Vs Net profit, . Theories of profit, Difference between profit and interest,

First Year Economics Chapter 17 Online MCQ Test for 1st Year Economics Chapter 17 (Rent, Interest, Profit)

Sr. # Questions Answers Choice
1 Interest is paid because
  • A. capital is scarce
  • B. capital is productive
  • C. capital is attractive
  • D. a and b of above
2 Every factor of production gets reward equal to its
  • A. cost
  • B. marginal product
  • C. price
  • D. increasing return
3 He said interest is payment for use of money
  • A. Adam Smith
  • B. Ricardo
  • C. Keynes
  • D. Marshall
4 According to Prof. Knight risks are of ...... kinds
  • A. 2
  • B. 3
  • C. 4
  • D. many
5 Money wages are also called
  • A. Nominal Wages
  • B. Real wages
  • C. Gross wages
  • D. Net wages
6 This is capital
  • A. money
  • B. forests
  • C. machinery
  • D. trademarks
7 One of the following is not an assumption of the Ricardian theory of rent.
  • A. Lands are cultivated in sequence
  • B. All lands are homogeneous
  • C. All units of labour are identical
  • D. There are original and industuctible powers of soils
8 Who introduced the concept of Quasi rent.
  • A. Hicks
  • B. Alfred Marshall
  • C. Hobson
  • D. Robbins
9 Profits
  • A. are necessary
  • B. are unnecessary
  • C. can never be negative
  • D. are illegal
10 This is not a function of the entrepreneur
  • A. supervise
  • B. innovate
  • C. lend money
  • D. prepare plan

Top Scorers of Economics Ics Part 1 English Medium Chapter 17 Online Test

K

Kashifakainat

Lahore03 - Jun - 2022

19/20
01 Mins 49 Sec

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