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 If the supply of land is assumed to be perfectly inelastic which of the following rent will it yield.
  • A. Scarcity rent
  • B. Differential rent
  • C. Quasi rent
  • D. Scarcity rent
2 The borrower has to pay interest because of
  • A. His poverty
  • B. productivity of capital
  • C. greediness of capitalist
  • D. scarcity of capital
3 Gross profit does NOT include
  • A. rent of his own land
  • B. interest of his own capital
  • C. pure profit
  • D. taxes
4 According to Ricardo rents are high because prices of produce of land are
  • A. high
  • B. low
  • C. constant
  • D. none of the above
5 According to Prof. Knight risks are of ...... kinds
  • A. 2
  • B. 3
  • C. 4
  • D. many
6 This is not a function of the entrepreneur
  • A. supervise
  • B. innovate
  • C. lend money
  • D. prepare plan
7 These are kinds of rent EXCEPT
  • A. differential rent
  • B. scarcity rent
  • C. mobility rent
  • D. location rent
8 Gross profit includes
  • A. monopoly profit
  • B. pure profit
  • C. windfall profit
  • D. all of the above
9 Profits arise
  • A. only in monopoly
  • B. because of uncertainty
  • C. shortage of goods
  • D. like interest
10 Money wages are also called
  • A. Nominal Wages
  • B. Real wages
  • C. Gross wages
  • D. Net wages

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