Home
News
Colleges
Courses
Admission
Lectures
Online Test
Past Papers
Date Sheets
Results
Study Abroad
Jobs
Tutors
More
Apps
.gif)
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
Long-run price of a durable good is always less than its short run price . it is because.
Question # 2
With a fixed in the market period, if the demand of a product rises, then:
Question # 3
When both demand and supply fall in equal proportions, price of the product will .
Question # 4
Economic development of a country requires
Question # 5
Standard of living of a country can be raised if it increases
Question # 6
Which of the following factors takes risk, innovates and coordinates
Question # 7
If supply rises more than demand, price of the product will.
Question # 8
The following is NOTa factor of production
Question # 9
Which is true
Question # 10
The transformation of resources into economic goods and services is called
Question # 11
The transformation of resources into economic gods and services is
Question # 12
Which of the following is NOT an input
Question # 13
The supply of perishable goods is.
Question # 14
Land means
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 input factor takes risk, innovates and coordinates
Question # 18
Equilibrium price of a product is determined by:
Question # 19
An example of natural resource is
Question # 20
Price determined in case of a perishable good will be.
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 | Land as used in economics |
A. is a free gift of nature
B. is unlimited in quantity
C. is not hirable
D. excludes oceans
|
| 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 | If supply rises more than demand, price of the product will. |
A. Fall
B. Rise
C. Not change
D. Change
|
| 4 | Which of the following factors takes risk, innovates and coordinates |
A. capital
B. labour
C. bank
D. entrepreneur
|
| 5 | The transformation of resources into economic gods and services is |
A. input
B. production
C. entrepreneur
D. market
|
| 6 | Productivity of land can be raised by |
A. decreasing farm size
B. intensive cultivation
C. better marketing
D. increasing money supply
|
| 7 | Land, labour and capital are needed to produce goods. They are collectively called |
A. elements of production
B. factors of production
C. tools of production
D. cost of production
|
| 8 | Economic goods produced by firms are called |
A. productivity
B. innovation
C. technological progress
D. output
|
| 9 | Land is |
A. hirable
B. not hirable
C. homogeneous
D. a form of capital
|
| 10 | The following is NOTa factor of production |
A. labour
B. entrepreneurship
C. land
D. money
|
Test Questions
Share your comments & questions here
No comments yet. Be the first to comment!