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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
Productivity of land can be raised by
Question # 2
The supply of perishable goods is.
Question # 3
Which is true
Question # 4
Land as used in economics
Question # 5
Economic development of a country requires
Question # 6
Given the demand curve, a rise in supply will.
Question # 7
Which of the following is NOT an input
Question # 8
Geographical mobility is not possible for
Question # 9
When demand rises more than supply price of the product will.
Question # 10
Land is
Question # 11
Land means
Question # 12
Which of the following input factor takes risk, innovates and coordinates
Question # 13
Which of the following factors takes risk, innovates and coordinates
Question # 14
An example of natural resource is
Question # 15
Standard of living of a country can be raised if it increases
Question # 16
If a firm increases the ratio of capital to labour, it becomes more
Question # 17
The transformation of resources into economic goods and services is called
Question # 18
The three broad types of productive resources are
Question # 19
The transformation of resources into economic gods and services is
Question # 20
Economic goods produced by firms are called
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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ICS Part 1 Economics Chapter 7 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Standard of living of a country can be raised if it increases |
A. labour force
B. production
C. money supply
D. exports
|
| 2 | The supply of perishable goods is. |
A. Elastic
B. Inelastic
C. Perfectly elastic
D. None of the above
|
| 3 | Land is |
A. hirable
B. not hirable
C. homogeneous
D. a form of capital
|
| 4 | If the government supplies a product at a price less than the equilibrium price, it will create: |
A. Shortage
B. Surlius
C. Non of the two
D. Equilibrium quantity
|
| 5 | Natural environment that supports production of goods and services is included in |
A. labour
B. money
C. capital
D. land
|
| 6 | Production in economic means |
A. factors of production
B. doing some job
C. output of goods
D. profit
|
| 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 three broad types of productive resources are |
A. money, profit and interest
B. capital, labour and natural resources
C. labour, stock shares and deposits
D. technology, landl and markets
|
| 9 | 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
|
| 10 | Given the demand curve, a rise in supply will. |
A. Increase quantity supplied
B. Price will fall
C. Price will rise
D. Both (a) and (b)
|
Test Questions