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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
Land, labour and capital are needed to produce goods. They are collectively called
Question # 2
Geographical mobility is not possible for
Question # 3
Price determined in case of a perishable good will be.
Question # 4
If supply rises more than demand, price of the product will.
Question # 5
An example of natural resource is
Question # 6
Which of the following factors takes risk, innovates and coordinates
Question # 7
Land means
Question # 8
The following is NOTa factor of production
Question # 9
If a firm increases the ratio of capital to labour, it becomes more
Question # 10
When both demand and supply fall in equal proportions, price of the product will .
Question # 11
Economic development of a country requires
Question # 12
For production of goods we need factors
Question # 13
Which of the following input factor takes risk, innovates and coordinates
Question # 14
Land is
Question # 15
With a fixed in the market period, if the demand of a product rises, then:
Question # 16
Natural environment that supports production of goods and services is included in
Question # 17
Labour is hirable but you cannot hire
Question # 18
When demand rises more than supply price of the product will.
Question # 19
Given the demand curve, a rise in supply will.
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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A Anum Fatima 19 - Jun - 2023 00 Min 02 Sec 18/20 -
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M M.Attiq-U-Rehman 24 - Nov - 2023 03 Min 16 Sec 16/20 -
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K Khushi Gupta 10 - Jan - 2022 12 Min 37 Sec 15/20
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 | 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
|
| 3 | When demand rises more than supply price of the product will. |
A. Rise
B. Fall
C. Remains unchanged
D. None of the three
|
| 4 | Natural environment that supports production of goods and services is included in |
A. labour
B. money
C. capital
D. land
|
| 5 | Which of the following input factor takes risk, innovates and coordinates |
A. capital
B. labour
C. productivity
D. entrepreneur
|
| 6 | Land is |
A. hirable
B. not hirable
C. homogeneous
D. a form of capital
|
| 7 | Labour is hirable but you cannot hire |
A. capital
B. land
C. manager
D. entrepreneur
|
| 8 | 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)
|
| 9 | 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
|
| 10 | Which of the following is NOT an input |
A. labour
B. entrepreneurship
C. natural resources
D. production
|
Test Questions