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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
Which of the following is NOT an input
Question # 2
Land means
Question # 3
Which of the following input factor takes risk, innovates and coordinates
Question # 4
The transformation of resources into economic goods and services is called
Question # 5
Geographical mobility is not possible for
Question # 6
Economic development of a country requires
Question # 7
Given the supply curve, a fall in demand will.
Question # 8
Land, labour and capital are needed to produce goods. They are collectively called
Question # 9
Land is
Question # 10
The following is NOTa factor of production
Question # 11
When supply rises more than demand price of the product will.
Question # 12
Which of the following is correct with respect to resources
Question # 13
Long-run price of a durable good is always less than its short run price . it is because.
Question # 14
Production in economic means
Question # 15
For production of goods we need factors
Question # 16
The supply of perishable goods is.
Question # 17
Productivity of land can be raised by
Question # 18
If supply rises more than demand, price of the product will.
Question # 19
An example of natural resource is
Question # 20
Which is true
ICS Part 1 Economics Chapter 7 MCQs Test
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ICS Part 1 Economics Chapter 7 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Labour is hirable but you cannot hire |
A. capital
B. land
C. manager
D. entrepreneur
|
| 2 | 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
|
| 3 | When demand rises more than supply price of the product will. |
A. Rise
B. Fall
C. Remains unchanged
D. None of the three
|
| 4 | 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)
|
| 5 | The supply of perishable goods is. |
A. Elastic
B. Inelastic
C. Perfectly elastic
D. None of the above
|
| 6 | Which of the following input factor takes risk, innovates and coordinates |
A. capital
B. labour
C. productivity
D. entrepreneur
|
| 7 | Productivity of land can be raised by |
A. decreasing farm size
B. intensive cultivation
C. better marketing
D. increasing money supply
|
| 8 | Geographical mobility is not possible for |
A. land
B. labour
C. capital
D. wealth
|
| 9 | Natural environment that supports production of goods and services is included in |
A. labour
B. money
C. capital
D. land
|
| 10 | 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
|
Test Questions