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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
Natural environment that supports production of goods and services is included in
Question # 2
Which of the following is correct with respect to resources
Question # 3
Given the demand curve, a rise in supply will.
Question # 4
Economic development of a country requires
Question # 5
Geographical mobility is not possible for
Question # 6
The following is NOTa factor of production
Question # 7
With a fixed in the market period, if the demand of a product rises, then:
Question # 8
Which of the following is NOT an input
Question # 9
An example of natural resource is
Question # 10
Long-run price of a durable good is always less than its short run price . it is because.
Question # 11
Land is
Question # 12
Land, labour and capital are needed to produce goods. They are collectively called
Question # 13
The transformation of resources into economic goods and services is called
Question # 14
Land as used in economics
Question # 15
Which of the following input factor takes risk, innovates and coordinates
Question # 16
Price determined in case of a perishable good will be.
Question # 17
Labour is hirable but you cannot hire
Question # 18
For production of goods we need factors
Question # 19
If a firm increases the ratio of capital to labour, it becomes more
Question # 20
If the government supplies a product at a price less than the equilibrium price, it will create:
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 -
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M M.Attiq-U-Rehman 24 - Nov - 2023 03 Min 16 Sec 16/20 -
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M Malaika 01 - Feb - 2021 04 Min 13 Sec 15/20 -
D Duaa 22 - Nov - 2021 04 Min 26 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 -
E ekta 05 - Aug - 2021 03 Min 31 Sec 14/20
ICS Part 1 Economics Chapter 7 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | The following is NOTa factor of production |
A. labour
B. entrepreneurship
C. land
D. money
|
| 2 | Land is |
A. hirable
B. not hirable
C. homogeneous
D. a form of capital
|
| 3 | Which is true |
A. labour produces land
B. land produces labour
C. labour produces capital
D. capital produces labour
|
| 4 | 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
|
| 5 | For production of goods we need factors |
A. few
B. 2
C. 4
D. unlimited
|
| 6 | Which of the following is NOT an input |
A. labour
B. entrepreneurship
C. natural resources
D. production
|
| 7 | Economic development of a country requires |
A. skilled lobour
B. diplomacy
C. abundant natural resources
D. a and c of aboce
|
| 8 | Which of the following input factor takes risk, innovates and coordinates |
A. capital
B. labour
C. productivity
D. entrepreneur
|
| 9 | Standard of living of a country can be raised if it increases |
A. labour force
B. production
C. money supply
D. exports
|
| 10 | 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
|
Test Questions
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