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This online test contains MCQs about following topics:
Factors of production - Production Function
MCQ's Test For Chapter 7 "Economics Ics Part 1 English Medium Chapter 7 Online Test"
Try The MCQ's Test For Chapter 7 "Economics Ics Part 1 English Medium Chapter 7 Online Test"
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Total Questions20
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Time Allowed30
Economics Ics Part 1 English Medium Chapter 7 Online Test
00:00
Question # 1
Which of the following factors takes risk, innovates and coordinates
Question # 2
Economic development of a country requires
Question # 3
Natural environment that supports production of goods and services is included in
Question # 4
With a fixed in the market period, if the demand of a product rises, then:
Question # 5
The following is NOTa factor of production
Question # 6
Economic goods produced by firms are called
Question # 7
The supply of perishable goods is.
Question # 8
The transformation of resources into economic goods and services is called
Question # 9
An example of natural resource is
Question # 10
For production of goods we need factors
Question # 11
The three broad types of productive resources are
Question # 12
Land as used in economics
Question # 13
Standard of living of a country can be raised if it increases
Question # 14
Productivity of land can be raised by
Question # 15
When demand rises more than supply price of the product will.
Question # 16
If the government supplies a product at a price less than the equilibrium price, it will create:
Question # 17
Equilibrium price of a product is determined by:
Question # 18
Production in economic means
Question # 19
Geographical mobility is not possible for
Question # 20
Long-run price of a durable good is always less than its short run price . it is because.
ICS Part 1 Economics Chapter 7 MCQs Test
Top Scorers Of Chapter 7 "Economics Ics Part 1 English Medium Chapter 7 Online Test" MCQ`s Test
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M Maheen 19 - Feb - 2021 02 Min 46 Sec 19/20 -
R romana 24 - Jun - 2021 12 Min 13 Sec 19/20 -
A Anum Fatima 19 - Jun - 2023 00 Min 02 Sec 18/20 -
A Ali Hassan 10 - Sep - 2022 03 Min 17 Sec 17/20 -
A aesha ghafoor 31 - May - 2023 03 Min 43 Sec 17/20 -
T Tasneem 09 - Feb - 2019 03 Min 59 Sec 17/20 -
A Aiman Afaq 25 - Jul - 2023 04 Min 34 Sec 17/20 -
M M.Attiq-U-Rehman 24 - Nov - 2023 03 Min 16 Sec 16/20 -
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M Malaika 01 - Feb - 2021 04 Min 13 Sec 15/20 -
D Duaa 22 - Nov - 2021 04 Min 26 Sec 15/20 -
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K Khushi Gupta 10 - Jan - 2022 12 Min 37 Sec 15/20 -
E ekta 05 - Aug - 2021 03 Min 31 Sec 14/20
ICS Part 1 Economics Chapter 7 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | When demand rises more than supply price of the product will. |
A. Rise
B. Fall
C. Remains unchanged
D. None of the three
|
| 2 | Land means |
A. sea
B. surface of earth
C. natural forests
D. all natural resources
|
| 3 | Economic development of a country requires |
A. skilled lobour
B. diplomacy
C. abundant natural resources
D. a and c of aboce
|
| 4 | Which of the following is correct with respect to resources |
A. Money is a capital good
B. Human skills are a labour input
C. Entrepreneur is part of the labour input
D. Natural resources include human input
|
| 5 | When both demand and supply fall in equal proportions, price of the product will . |
A. Fall
B. Rise
C. Remain the same
D. None of the above
|
| 6 | Price determined in case of a perishable good will be. |
A. Normal price
B. Market price
C. Short run price
D. Long run price
|
| 7 | When supply rises more than demand price of the product will. |
A. Rise
B. Fall
C. Remain unchanged
D. Non of the three
|
| 8 | The transformation of resources into economic goods and services is called |
A. technical efficiency
B. input
C. production
D. increasing returns
|
| 9 | The supply of perishable goods is. |
A. Elastic
B. Inelastic
C. Perfectly elastic
D. None of the above
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| 10 | For production of goods we need factors |
A. few
B. 2
C. 4
D. unlimited
|
Test Questions
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