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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
Economic development of a country requires
Question # 2
With a fixed in the market period, if the demand of a product rises, then:
Question # 3
The supply of perishable goods is.
Question # 4
For production of goods we need factors
Question # 5
Price determined in case of a perishable good will be.
Question # 6
Land is
Question # 7
The three broad types of productive resources are
Question # 8
If the government supplies a product at a price less than the equilibrium price, it will create:
Question # 9
Standard of living of a country can be raised if it increases
Question # 10
Which of the following factors takes risk, innovates and coordinates
Question # 11
When supply rises more than demand price of the product will.
Question # 12
Which is true
Question # 13
Productivity of land can be raised by
Question # 14
The transformation of resources into economic gods and services is
Question # 15
Production in economic means
Question # 16
The transformation of resources into economic goods and services is called
Question # 17
Equilibrium price of a product is determined by:
Question # 18
Labour is hirable but you cannot hire
Question # 19
Given the supply curve, a fall in demand will.
Question # 20
When demand rises more than supply price of the product will.
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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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 | 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)
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| 2 | The transformation of resources into economic goods and services is called |
A. technical efficiency
B. input
C. production
D. increasing returns
|
| 3 | The following is NOTa factor of production |
A. labour
B. entrepreneurship
C. land
D. money
|
| 4 | Which of the following input factor takes risk, innovates and coordinates |
A. capital
B. labour
C. productivity
D. entrepreneur
|
| 5 | An example of natural resource is |
A. factory
B. skilled doctor
C. oil reserves in the ground
D. oil reserves in storage tank
|
| 6 | Productivity of land can be raised by |
A. decreasing farm size
B. intensive cultivation
C. better marketing
D. increasing money supply
|
| 7 | Which of the following is NOT an input |
A. labour
B. entrepreneurship
C. natural resources
D. production
|
| 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 | When demand rises more than supply price of the product will. |
A. Rise
B. Fall
C. Remains unchanged
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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