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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
Production in economic means
Question # 2
Which is true
Question # 3
Given the demand curve, a rise in supply will.
Question # 4
If a firm increases the ratio of capital to labour, it becomes more
Question # 5
When supply rises more than demand price of the product will.
Question # 6
Land as used in economics
Question # 7
Labour is hirable but you cannot hire
Question # 8
Geographical mobility is not possible for
Question # 9
With a fixed in the market period, if the demand of a product rises, then:
Question # 10
Land is
Question # 11
Which of the following is correct with respect to resources
Question # 12
Land, labour and capital are needed to produce goods. They are collectively called
Question # 13
Economic goods produced by firms are called
Question # 14
The three broad types of productive resources are
Question # 15
The transformation of resources into economic gods and services is
Question # 16
If the government supplies a product at a price less than the equilibrium price, it will create:
Question # 17
Price determined in case of a perishable good will be.
Question # 18
Productivity of land can be raised by
Question # 19
The supply of perishable goods is.
Question # 20
Which of the following is NOT an input
ICS Part 1 Economics Chapter 7 MCQs Test
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ICS Part 1 Economics Chapter 7 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | If a firm increases the ratio of capital to labour, it becomes more |
A. labour intensive
B. capital intensive
C. output intensive
D. input intensive
|
| 2 | When demand rises more than supply price of the product will. |
A. Rise
B. Fall
C. Remains unchanged
D. None of the three
|
| 3 | With a fixed in the market period, if the demand of a product rises, then: |
A. Price will fall
B. Price will rise
C. Price will remain the same
D. None of the three
|
| 4 | Production in economic means |
A. factors of production
B. doing some job
C. output of goods
D. profit
|
| 5 | When supply rises more than demand price of the product will. |
A. Rise
B. Fall
C. Remain unchanged
D. Non of the three
|
| 6 | Geographical mobility is not possible for |
A. land
B. labour
C. capital
D. wealth
|
| 7 | If supply rises more than demand, price of the product will. |
A. Fall
B. Rise
C. Not change
D. Change
|
| 8 | Which of the following is NOT an input |
A. labour
B. entrepreneurship
C. natural resources
D. production
|
| 9 | Given the supply curve, a fall in demand will. |
A. Increase equilibrium quantity of the product
B. Decrease equilibrium quantity of the product
C. Not affect equilibrium quantity
D. Not affect equilibrium price
|
| 10 | The following is NOTa factor of production |
A. labour
B. entrepreneurship
C. land
D. money
|
Test Questions