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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
The following is NOTa factor of production
Question # 2
Land as used in economics
Question # 3
Given the demand curve, a rise in supply will.
Question # 4
An example of natural resource is
Question # 5
Which of the following is correct with respect to resources
Question # 6
Natural environment that supports production of goods and services is included in
Question # 7
Which of the following factors takes risk, innovates and coordinates
Question # 8
Economic goods produced by firms are called
Question # 9
Economic development of a country requires
Question # 10
When demand rises more than supply price of the product will.
Question # 11
Geographical mobility is not possible for
Question # 12
Equilibrium price of a product is determined by:
Question # 13
The supply of perishable goods is.
Question # 14
Standard of living of a country can be raised if it increases
Question # 15
If the government supplies a product at a price less than the equilibrium price, it will create:
Question # 16
Labour is hirable but you cannot hire
Question # 17
Which of the following is NOT an input
Question # 18
Productivity of land can be raised by
Question # 19
Price determined in case of a perishable good will be.
Question # 20
With a fixed in the market period, if the demand of a product rises, then:
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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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 -
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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
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| 2 | Which of the following input factor takes risk, innovates and coordinates |
A. capital
B. labour
C. productivity
D. entrepreneur
|
| 3 | 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
|
| 4 | Economic development of a country requires |
A. skilled lobour
B. diplomacy
C. abundant natural resources
D. a and c of aboce
|
| 5 | Productivity of land can be raised by |
A. decreasing farm size
B. intensive cultivation
C. better marketing
D. increasing money supply
|
| 6 | 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
|
| 7 | Production in economic means |
A. factors of production
B. doing some job
C. output of goods
D. profit
|
| 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 | Equilibrium price of a product is determined by: |
A. The gomverment
B. An industrialist
C. Market competition
D. An agriculturist
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| 10 | For production of goods we need factors |
A. few
B. 2
C. 4
D. unlimited
|
Test Questions
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