11th class Economics chapter 17 online mcq test with answers for ICS part 1 Economics chapter 17 (Rent, Interest, Profit)

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,

ICS Part 1 Economics Chapter 17 Test

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

Sr. #	Questions	Answers Choice
1	According to Ricardo rents are high because prices of produce of land are	A. high B. low C. constant D. none of the above
2	Profits	A. are lower in the long run than in the short run B. can be negative C. are less in perfect competition than in monopoly D. all of the above
3	The concept of quasi rent was given by.	A. Ricardo B. Adam smith C. Alfred Marshall D. Robbins
4	Rent is calculated from	A. most superior land B. most inferior land C. marginal land D. uncultivable land
5	Profits arise	A. only in monopoly B. because of uncertainty C. shortage of goods D. like interest
6	Marginal revenue products (MRP) curve falls when units of labour	A. Remain constant B. Decrease C. Increase D. None of the three
7	He put forward the theory of profit	A. Keynes B. Adam Smith C. Knight D. Anyson
8	For an individual farmer, rent paid by him	A. is part of cost and affects price of his product B. does not enter into price of his product C. is unjustified D. cannot be determined
9	Risks in the business arise because of	A. introduction of the new products B. uncertain policy of rival firms C. changes in tastes D. all the above
10	Quasi rent	A. is permanent B. is temporary C. arises in long run only D. means high rent

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