Home
News
Colleges
Courses
Admission
Lectures
Online Test
Past Papers
Date Sheets
Results
Study Abroad
Jobs
Tutors
More
Apps
.jpg)
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
If supply rises more than demand, price of the product will.
Question # 2
Land as used in economics
Question # 3
For production of goods we need factors
Question # 4
Which of the following is NOT an input
Question # 5
Price determined in case of a perishable good will be.
Question # 6
Long-run price of a durable good is always less than its short run price . it is because.
Question # 7
An example of natural resource is
Question # 8
Land, labour and capital are needed to produce goods. They are collectively called
Question # 9
When both demand and supply fall in equal proportions, price of the product will .
Question # 10
With a fixed in the market period, if the demand of a product rises, then:
Question # 11
If a firm increases the ratio of capital to labour, it becomes more
Question # 12
Economic goods produced by firms are called
Question # 13
The transformation of resources into economic goods and services is called
Question # 14
The three broad types of productive resources are
Question # 15
When supply rises more than demand price of the product will.
Question # 16
Which of the following factors takes risk, innovates and coordinates
Question # 17
Which is true
Question # 18
Productivity of land can be raised by
Question # 19
Land means
Question # 20
Labour is hirable but you cannot hire
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 -
M Muhammad Inam 08 - Jan - 2019 04 Min 27 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
ICS Part 1 Economics Chapter 7 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | The transformation of resources into economic gods and services is |
A. input
B. production
C. entrepreneur
D. market
|
| 2 | An example of natural resource is |
A. factory
B. skilled doctor
C. oil reserves in the ground
D. oil reserves in storage tank
|
| 3 | For production of goods we need factors |
A. few
B. 2
C. 4
D. unlimited
|
| 4 | Economic goods produced by firms are called |
A. productivity
B. innovation
C. technological progress
D. output
|
| 5 | 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)
|
| 6 | When supply rises more than demand price of the product will. |
A. Rise
B. Fall
C. Remain unchanged
D. Non of the three
|
| 7 | Economic development of a country requires |
A. skilled lobour
B. diplomacy
C. abundant natural resources
D. a and c of aboce
|
| 8 | 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
|
| 9 | 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
|
| 10 | Which of the following is NOT an input |
A. labour
B. entrepreneurship
C. natural resources
D. production
|
Test Questions
Share your comments & questions here
No comments yet. Be the first to comment!