Home
News
Colleges
Courses
Admission
Lectures
Online Test
Past Papers
Date Sheets
Results
Study Abroad
Jobs
Tutors
More
Apps
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"
-
Total Questions20
-
Time Allowed30
Economics Ics Part 1 English Medium Chapter 7 Online Test
00:00
Question # 1
Given the demand curve, a rise in supply will.
Question # 2
Which of the following is NOT an input
Question # 3
The transformation of resources into economic goods and services is called
Question # 4
Production in economic means
Question # 5
The following is NOTa factor of production
Question # 6
Which of the following input factor takes risk, innovates and coordinates
Question # 7
If supply rises more than demand, price of the product will.
Question # 8
Which of the following is correct with respect to resources
Question # 9
Which of the following factors takes risk, innovates and coordinates
Question # 10
Given the supply curve, a fall in demand will.
Question # 11
Long-run price of a durable good is always less than its short run price . it is because.
Question # 12
Standard of living of a country can be raised if it increases
Question # 13
An example of natural resource is
Question # 14
Which is true
Question # 15
When both demand and supply fall in equal proportions, price of the product will .
Question # 16
Economic goods produced by firms are called
Question # 17
Labour is hirable but you cannot hire
Question # 18
Land, labour and capital are needed to produce goods. They are collectively called
Question # 19
Natural environment that supports production of goods and services is included in
Question # 20
Land is
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
-
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 -
H Hanif Wazir 30 - May - 2022 06 Min 25 Sec 16/20 -
H hamza abid 21 - Jul - 2022 10 Min 50 Sec 16/20 -
M Malaika 01 - Feb - 2021 04 Min 13 Sec 15/20 -
D Duaa 22 - Nov - 2021 04 Min 26 Sec 15/20 -
N Nisha 30 - Jul - 2021 06 Min 05 Sec 15/20 -
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 | Geographical mobility is not possible for |
A. land
B. labour
C. capital
D. wealth
|
| 2 | Land, labour and capital are needed to produce goods. They are collectively called |
A. elements of production
B. factors of production
C. tools of production
D. cost of production
|
| 3 | Equilibrium price of a product is determined by: |
A. The gomverment
B. An industrialist
C. Market competition
D. An agriculturist
|
| 4 | Long-run price of a durable good is always less than its short run price . it is because. |
A. Long -run supply is more elastic than short-run supply curve.
B. Long -run supply is less elastic than short-run supply curve.
C. Long and short-run supply curves are equally elastic
D. None of the three
|
| 5 | Economic goods produced by firms are called |
A. productivity
B. innovation
C. technological progress
D. output
|
| 6 | Economic development of a country requires |
A. skilled lobour
B. diplomacy
C. abundant natural resources
D. a and c of aboce
|
| 7 | 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
|
| 8 | Price determined in case of a perishable good will be. |
A. Normal price
B. Market price
C. Short run price
D. Long run price
|
| 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 | Productivity of land can be raised by |
A. decreasing farm size
B. intensive cultivation
C. better marketing
D. increasing money supply
|
Test Questions