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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
Standard of living of a country can be raised if it increases
Question # 3
Economic development of a country requires
Question # 4
Which of the following factors takes risk, innovates and coordinates
Question # 5
Given the demand curve, a rise in supply will.
Question # 6
Price determined in case of a perishable good will be.
Question # 7
When supply rises more than demand price of the product will.
Question # 8
Land is
Question # 9
The transformation of resources into economic goods and services is called
Question # 10
Which of the following is NOT an input
Question # 11
Which is true
Question # 12
With a fixed in the market period, if the demand of a product rises, then:
Question # 13
Land means
Question # 14
The transformation of resources into economic gods and services is
Question # 15
Production in economic means
Question # 16
Long-run price of a durable good is always less than its short run price . it is because.
Question # 17
Geographical mobility is not possible for
Question # 18
Labour is hirable but you cannot hire
Question # 19
For production of goods we need factors
Question # 20
Natural environment that supports production of goods and services is included in
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 | When demand rises more than supply price of the product will. |
A. Rise
B. Fall
C. Remains unchanged
D. None of the three
|
| 2 | The supply of perishable goods is. |
A. Elastic
B. Inelastic
C. Perfectly elastic
D. None of the above
|
| 3 | 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
|
| 4 | Price determined in case of a perishable good will be. |
A. Normal price
B. Market price
C. Short run price
D. Long run price
|
| 5 | 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
|
| 6 | Productivity of land can be raised by |
A. decreasing farm size
B. intensive cultivation
C. better marketing
D. increasing money supply
|
| 7 | For production of goods we need factors |
A. few
B. 2
C. 4
D. unlimited
|
| 8 | Land is |
A. hirable
B. not hirable
C. homogeneous
D. a form of capital
|
| 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 | Labour is hirable but you cannot hire |
A. capital
B. land
C. manager
D. entrepreneur
|
Test Questions
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